Phase II, ‘Carve Out and Compete’

Prime Minister Dato’ Sri Mohd. Najib Tun Razak announces the Second Phase of the Bumiputra Transformation Economic Roadmap (BTER) as part of the Bumiputra Agenda, which encompass the strategy of ‘Carve Out and Compete’.

Five main thrusts define the strategy;

  1. Economies and scale and passage to grow. Bumiputra corporations would be supported, facilitated and encouraged to grow into the market.
  2. Empowering the talents of Bumiputra. Government would make it a national agenda to facilitate and support the building of talents amongst Bumiputra, in any fields be it academic, commercial, science and technology, professional, arts and culture and sports
  3. Improve the resilience of Bumiputra entrepreneurs. Special programs such as Skim Jejak Jaya Bumiputra identify highly potential Bumiputra companies and being nurtured with the target to be listed in Bursa Malaysia.
  4. Enabling the social mobility amongst Bumiputra. Bumiputra entrepreneurs would be facilitated and supported to explore and strengthen their trade beyond our waters, as part of the social mobility transformation plan with increasing the quality of life to another level.
  5. The holistic transformation for the Bumiputra

‘Carve Out and Compete’ is basically to carve out portion of the economic cake to be set aside for Bumiputra entrepreneurs and they would utilise this opportunity to grow and compete their trade for their keep.

It is sophisticated affirmative action as a multiplication effect for Bumiputra entrepreneurs to make up for the opportunity available in the market and further on, explore elsewhere.

Prime Minister Najib earlier said that since the Transformation Agenda was first laid and realised, the household income of a Bumiputra family 2012-2014  had risen by 24%.

He also stressed to ensure the interests of the Bumiputra, be it in the urban or rural, Muslim or Non Muslim, would continuously be looked after and transformed, with no expense to any quarters.

It is not just a ‘Bumiputra Agenda’ but actually, ‘National Agenda’.

The full text of Prime Minister Najib’s speech:

  • Sila Semak Semasa Penyampaian

    UCAPAN OLEH

    YAB DATO’ SRI MOHD NAJIB BIN TUN HAJI ABDUL RAZAK

    PERDANA MENTERI MALAYSIA

    MAJLIS PELANCARAN

    HALATUJU TRANSFORMASI EKONOMI BUMIPUTERA 2.0

    PADA 19 APRIL 2017 (RABU), PUKUL 3.30 PETANG

    DI DEWAN UTAMA, PUSAT KONVENSYEN KUALA LUMPUR (KLCC)

    KUALA LUMPUR

    —————————————————————————————

Bismillahir Rahmanir Rahim,

Alhamdulillahi Rabbil A’lamin wa biHi Nastai’n,

Ucapan selawat dan salam ke atas Nabi Muhammad SAW,

 

Assalamualaikum Warahmatullahi Wabarakatuh,

Salam Sejahtera, Salam Negaraku dan Salam 1Malaysia,

 

Yang Amat Berhormat Dato’ Seri Dr Ahmad Zahid Hamidi;

Timbalan Perdana Menteri,

 

Yang Berhormat Dato’ Abdul Rahman Dahlan;

Menteri di Jabatan Perdana Menteri,

 

Yang Berhormat Menteri-Menteri dan Timbalan-Timbalan Menteri,

 

Ahli-ahli Majlis Ekonomi Bumiputera,

 

Yang Berbahagia Dato’ Husni Salleh;

Ketua Pegawai Eksekutif TERAJU,

 

Seterusnya, Tuan-Tuan dan Puan-Puan serta Rakyat Malaysia Yang Dikasihi Sekalian,

 

  1. Pertama sekali, marilah sama-sama memanjatkan rasa syukur ke hadrat Allah Hu Taa’la, di atas limpah Izin dan KurniaNya, dapatlah kita berhimpun pada petang yang berbahagia ini, di Dewan Utama Pusat Konvensyen Kuala Lumpur, bagi menjayakan satu majlis yang amat bererti kepada Bumiputera, Malaysia.

 

  1. Sesungguhnya, saya diberitahu, di hadapan saya ini antaranya terdiri daripada lebih kurang 1,500 orang hadirin, yang majoritinya merupakan direct beneficiaries atau penerima langsung manfaat kepada program-program Kerajaan, atau dalam ertikata lain, tuan-tuan dan puan-puan adalah saksi dan bukti terhadap pelbagai usaha Kerajaan, dalam memperkasakan Agenda Bumiputera.

 

  1. Makanya, program hari ini, sebenarnya adalah susulan daripada inisiatif Halatuju Transformasi Ekonomi Bumiputera pada tahun 2011, yang kemudiannya diperkukuhkan lagi dalam satu majlis bersejarah pada 14 September 2013, iaitu Pemerkasaan Ekonomi Bumiputera di Universiti Teknologi Mara, Shah Alam.

 

  1. Sebelum saya berbicara lebih lanjut, elok dihimbau daripada segi sejarahnya, dasar berkaitan Bumiputera yakni Dasar Ekonomi Baru yang lebih dikenali sebagai DEB, telah digagaskan oleh Allahyarham Tun Abdul Razak, pada tahun 1971.

 

  1. Dasar ini telah terbina sebagai satu instrumen untuk mengimbangi jurang antara kaum yang meruncing ketika itu sehingga terjadinya rusuhan, baru kira kira 12 tahun selepas negara mencapai kemerdekaan.

 

  1. Realitinya, Tuan-Tuan dan Puan-Puan, walaupun dasar ini telah berlangsung secara rasminya sehingga awal 1990an, namun secara umumnya, bukan sahaja roh dan semangat, bahkan prinsip serta falsafah DEB masih kekal membara dan berhembus segar, terus dilaksanakan sehingga ke hari ini.

 

  1. Di era 1990an, membawa kepada tahun 2010, pelbagai wawasan, dasar dan misi Nasional, telah terus berkesinambungan, melaksanakan Agenda Bumiputera.

 

  1. Justeru, selepas saya mengambil alih kepimpinan negara selaku Perdana Menteri, saya melihat inisiatif, prakarsa dan perjuangan terhadap kepentingan Bumiputera, sewajibnya terus menjadi Agenda Utama.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Sesungguhnya, justifikasi kepada kenapa pihak Kerajaan mesti prihatin dan memikul tanggungjawab yang besar terhadap Agenda Bumiputera, adalah kerana menurut statistiknya, terkini, daripada segi jumlah kependudukannya pun, masyarakat Bumiputera mewakili seramai 6 peratus daripada keseluruhan rakyat Malaysia yang berjumlah 31.7 juta orang.

 

  1. Diunjurkan pula, jumlah ini akan mencecah 69.1 peratus, kira-kira 3 tahun dari sekarang, dan apabila tibanya tahun 2030, akan mencapai 7 peratus.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Bercakap tentang Bumiputera dan tuntutan untuk memelihara kepentingannya, ia sangat jelas termaktub di dalam Perlembagaan Persekutuan antaranya melalui Perkara 153, yang menyebut bahawa, hak-hak keistimewaan orang-orang Melayu dan Bumiputera, baik di Semenanjung, Sabah mahupun Sarawak,…

 

mesti dilindungi, mesti dipelihara dan semestinya dipertahankan sampai bila-bila.  

 

  1. Oleh itu, adalah amat wajar bagi pihak Kerajaan, yang ditunjangi oleh UMNO dan Barisan Nasional, bukan sahaja untuk terus memperjuangkan kepentingan orang-orang Melayu serta Bumiputera Islam dan bukan Islam, bahkan kekal memartabatkannya sebagai Agenda Nasional.

 

  1. Namun demikian, pihak Kerajaan sentiasa beringat-ingat bahawa, dalam memperjuangkan Agenda Bumiputera, ia bukan bermakna kita sewenangnya boleh mengambil hak orang lain. Sebaliknya, secara beriring-iring dan selari, Kerajaan wajib menjaga kepentingan sah kaum-kaum yang ada di negara ini.

 

  1. Begitulah dengan berpegang kepada prinsip-prinsip tersebut dan juga hasil daripada pelbagai dasar, kita telah menyaksikan bagaimana sejak tahun 1970, kadar kemiskinan yang dahulunya pada tahap 3 peratus, telah berkurangan kepada 3.8 peratus pada tahun 2009, dan terus menyusut kepada 0.6 peratus pada tahun 2014.

 

  1. Yang lebih membanggakan kita, atas segala usaha Kerajaan Barisan Nasional sejak berpuluh-puluh tahun, dan suka saya ulangi dalam ucapan di mana-mana bahawa, faktanya,… kemiskinan tegar di Malaysia,… kini telah hampir disifarkan kesemuanya.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Bercakap tentang hal Bumiputera, sejak mencapai kemerdekaan, Kerajaan telah berjaya mewujudkan pelbagai instrumen dan institusi, demi kepentingan Melayu serta Bumiputera antaranya, Lembaga Tabung Haji, FELDA, RISDA, FELCRA, UDA, DARA, JENGKA, KETENGAH, KESEDAR, MARA dan UiTM.

 

  1. Ternyata, institusi-institusi Bumiputera ini telah berjaya membawa banyak manfaat kepada pemerkasaan ekonomi dan pendidikan Bumiputera.

 

  1. Sebagai contohnya, Lembaga Tabung Haji Malaysia yang telah diiktiraf sebagai institusi terbaik dalam pengurusan haji dan perkhidmatan kewangan Islam yang inovatif oleh kebanyakan negara Islam di dunia.

 

  1. Menyentuh hal perjuangan agenda Bumiputera di bidang pendidikan pula, pastinya, kita tidak dapat tidak, terus mengangkat tinggi Universiti Teknologi Mara. Apa yang ingin saya tegaskan ialah, Kerajaan terus tegar dalam memperjuangkan agenda pendidikan Bumiputera.

 

  1. Justeru, Kerajaan mensasarkan supaya pengambilan pelajarnya mencapai seramai 250 ribu orang menjelang tahun 2020. Setakat bulan November 2016 sahaja, bilangan pelajarnya telah mencecah lebih 165 ribu orang, di 36 kampus UiTM seluruh negara.

 

  1. Apa yang paling membanggakan kita, UiTM sebagai institusi Bumiputera, telah berjaya melahirkan seramai lebih 700 ribu graduan anak-anak Melayu dan Bumiputera yang berjaya, antaranya menjadi golongan profesional dan teknokrat di pelbagai bidang serta sektor. Semoga terus maju jaya dan tahniah kepada UiTM!

 

  1. Tidak terhenti setakat itu, melalui program Jelajah Pendidikan Bumiputera, kita telah berjaya membantu 37,324 orang pelajar Bumiputera yang tercicir, miskin dan kurang berkemampuan, untuk menyambung pendidikan ke peringkat pendidikan tinggi.

 

  1. Bahkan, pada tahun ini, saya mahukan sekurang-kurangnya, seramai 50 ribu lagi pelajar Bumiputera dibantu melalui inisiatif ini. Program ini melibatkan usaha pencarian hingga ke desa-desa, demi membela untung nasib anak-anak Bumiputera di pedalaman.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Seperti yang ramai maklum, dalam era pentadbiran Kerajaan sekarang ini pula, kita telah memperkenalkan Dasar Transformasi Nasional atau DTN semenjak tahun 2010.

 

  1. Dasar ini, memayungi terutamanya, Program Transformasi Nasional atau NTP yang bersifat inklusif, sebagai pemangkin untuk Malaysia menjadi sebuah negara maju High Income Advanced Economy dalam tempoh beberapa tahun lagi.

 

  1. Di bawah DTN juga, terdapat antara lain, Program Transformasi Kerajaan dan Ekonomi, Program Transformasi Politik serta Program Transformasi Sosial.

 

  1. Jika kita andaikan secara metafora, seperti yang boleh dilihat di layar putih, framework atau kerangka utama membina kejayaan Malaysia, bumbungnya adalah Dasar Transformasi Nasional, yang dipancang oleh tiang-tiang seri atau tonggak-tonggak yang menunjang DTN, seperti saya sebutkan tadi.

 

  1. Seluruh struktur ini, berlantaikan pula, kemajmukan rakyat yang berpegang kepada prinsip dan falsafah 1Malaysia.

 

  1. Jadinya, pada hemah saya, bertolak daripada itu, sebarang dasar yang melibatkan Bumiputera, tidak boleh menjadi satu program yang bersifat tersendiri, terasing atau stand alone. Dalam ertikata, bukan juga hanya menjadi salah satu tiang yang menonggak Dasar Transformasi Nasional.

 

  1. Lalunya, sekali lagi, jika kita melakarkan ibarat, dasar dan Agenda Bumiputera, sewajibnya terangkum serta bersifat all encompassing yakni merentasi setiap daripada tiang-tiang utama yang menjunjung Dasar Transformasi Nasional.

 

Tuan-tuan dan Puan-Puan,

 

  1. Menelusuri proses pembikinan Malaysia sebagai sebuah negara bangsa, yang berdaulat lagi merdeka, kita telah bertatih, bertapak dan berjalan jauh selama 60 tahun ini, membangunkan negara ini melalui pelbagai dasar, rancangan serta inisiatif tanpa kunjung jemu.
  2. Kita bermula sebagai sebuah negara yang kecil, berasetkan kemajmukan rakyat, bergantung kepada hasil pertanian, bahkan kenangan manis Belanjawan pertama negara pabila dibentangkan, hanya pada nilai 888 juta. Sekarang, setelah 6 dekad berlalu, Bajet 2017 menyaksikan telah meningkat sebanyak hampir 300 kali ganda nilainya iaitu, 8 bilion ringgit.

 

  1. Seterusnya, jika dibandingkan dengan Laporan Tahunan Program Transformasi Nasional, yang akan masuk tahun keenam pembentangannya tanggal 23 Mei 2017 nanti, inisiatif Halatuju Transformasi Ekonomi Bumiputera yang dimulakan pada tahun 2011, kini telah memasuki fasa kedua dari tahun 2017 sehingga tahun 2025, yakni sekitar 8 tahun dari sekarang.

 

  1. Justifikasinya, jika kini, pada keseluruhan nilaian ekonomi dan dagangan semasa negara, yakni 3 trilion ringgit, kek penyertaan, kekayaan dan penglibatan Bumiputera di bidang ekonomi, menurut laporan Unit Perancang Ekonomi atau EPU, sejak 2012 hingga 2014, kadar kenaikan purata pendapatan kasar isi rumah Bumiputera adalah sebanyak 24.5 peratus, lebih tinggi dari kadar kenaikan purata pendapatan kasar negara.

 

  1. Melihat kepada peratusan ini, bagi tahun-tahun yang mendatang, dalam istilah yang mudah, apa yang saya ingin lihat tentang kedudukan dan pencapaian ekonomi Bumiputera, adalah bertolak dari mana kita berada sekarang, dan ke manakah halatuju selanjutnya, berbanding dahulu.

 

  1. Oleh itu, sebagai langkah memperkasakan agenda Bumiputera, selaras dengan hasrat Kerajaan untuk menjadi sebuah ekonomi 2 trilion ringgit menjelang 7 hingga 8 tahun dari sekarang, maka pada hari ini, selain daripada kita melaporkan kisah-kisah kejayaan, kita akan melancarkan satu lagi inisiatif yang besar oleh TERAJU iaitu, Halatuju Transformasi Ekonomi Bumiputera 2.0.

 

KEJAYAAN DAN PENCAPAIAN EKONOMI BUMIPUTERA SEJAK 2011

 

Tuan-Tuan dan Puan-Puan,

 

  1. Justeru kini, saya ingin melaporkan kisah-kisah kejayaan Bumiputera sebentar lagi, yang telah dilakar melalui pelbagai inisiatif TERAJU, selaku Agensi Pelaksana kepada Majlis Ekonomi Bumiputera sejak ia ditubuhkan.

 

  1. Seperti yang disebutkan, pada tahun 2011, saya telah melancarkan Hala Tuju Transformasi Ekonomi Bumiputera, yang mempunyai dua matlamat penting iaitu pertama, memperkukuhkan penyertaan Bumiputera dalam ekonomi negara melalui penciptaan kekayaan dan keduanya, penyertaan seimbang dalam guna tenaga bidang bernilai tinggi serta pembangunan keusahawanan.

 

  1. Dalam Fasa Pertama inisiatif Bumiputera di bawah DTN ini, antaranya lahirlah inisiatif Syarikat Bumiputera Berprestasi Tinggi atau TERAS, Dana Mudah Cara dan Yayasan Peneraju Pendidikan Bumiputera. Alhamdulillah, kerana inisiatif ini telah membuahkan pelbagai kejayaan.

 

  1. Menerusi program TERAS sebanyak 1,014 buah syarikat telah diberikan sokongan dalam bentuk pembinaan kapasiti dan sokongan pembiayaan.

 

  1. Di bawah program ini, Kerajaan telah mewujudkan Dana TERAS bercagarkan 332 juta ringgit, dan telah menarik penyertaan lima buah institusi iaitu SME Bank, RHB Islamic, Maybank, MIDF dan Malaysian Debt Ventures, yang memberi serta menggandakan kemudahan pembiayaan kepada 14 bilion ringgit.

 

  1. Suka saya maklumkan sehingga Mac 2017, sebanyak 306 buah syarikat TERAS telah menerima kelulusan pembiayaan bagi pembelian aset dan modal kerja bernilai 3 bilion ringgit.

 

  1. Dalam hal ini, saya ingin menceritakan dua kisah kejayaan syarikat TERAS, iaitu System Consultancy Services Sdn Bhd atau SCS, yang telah berjaya memecah monopoli syarikat luar negara dalam perkhidmatan IT yang berkaitan tentang industri pertahanan.

 

  1. Begitu jugalah kepada AUEI Teras Holdings Sdn Bhd, sebuah syarikat pembangunan dan pelaburan hartanah dari Kota Bharu, Kelantan, yang bermula hanya mengendalikan projek bernilai lebih 25 juta ringgit, telah melonjak kepada lebih 300 juta ringgit.

 

  1. Tepukan syabas kepada Pengarah Urusan kedua-dua syarikat tersebut iaitu, saudara Mat Asis Mahnoon dan saudari Rita Sarbani binti Ismail!

 

Tuan-Tuan dan Puan-Puan,

 

  1. Selanjutnya, Dana Mudahcara adalah satu insentif bagi menggalakkan pelaburan swasta Bumiputera yang mana sebanyak 469 buah projek telah mendapat kelulusan pembiayaan.

 

  1. Hasilnya, syarikat-syarikat Bumiputera tersebut telah membuat pelaburan domestik bernilai 18 bilion ringgit iaitu 8.4 kali ganda dari nilai geran yang diberikan oleh Kerajaan, sekaligus mewujudkan lebih 43 ribu peluang pekerjaan.

 

  1. Sebagai contoh syarikat SMR Aquaculture Sdn Bhd telah menerima geran sebanyak 6 juta ringgit, untuk menjalankan perniagaan serampang 3 mata iaitu akuakultur, pertanian hidroponik dan pengeluaran tenaga solar di Tawau, Sabah.

 

  1. Projek yang bernilai 35 juta ringgit ini akan merangsang industri pelancongan Sabah dan mewujudkan peluang pekerjaan. Justeru, marilah kita berikan tepukan tahniah kepada saudara John Nip yang berketurunan Sino-Kadazandusun!

 

Tuan-Tuan dan Puan-Puan,

 

  1. Manakala dalam hal kejayaan Yayasan Peneraju Pendidikan Bumiputera pula, bermatlamat untuk memberi peluang kepada pelajar Bumiputera mendapatkan pendidikan dan pekerjaan lebih baik.

 

  1. Misalannya, saya begitu tersentuh dan berasa bangga dengan pencapaian Adik Auni Wadhiah Azahar, pelajar berumur 15 tahun, dari SMK Agama Dato’ Haji Abbas, Terengganu, kini tinggal bersama ibunya, yang berpendapatan 700 ringgit sebulan sebagai tukang jahit.

 

  1. Namun melalui program Peneraju Tunas Geliga, Alhamdulillah, pada tahun 2016, atas kegigihannya telah berjaya mendapat keputusan cemerlang dengan memperoleh 11A di dalam peperiksaan PT3. Marilah kita berikan tepukan tahniah dan Selamat Maju Jaya kepada Adik Auni!

Tuan-Tuan dan Puan-Puan,

 

  1. Melalui sidang Pemerkasaan Ekonomi Bumiputera pada tahun 2013, lahirnya pula antara yang terpenting adalah Majlis Ekonomi Bumiputera atau MEB, Skim Permulaan Ekonomi Bumiputera atau SUPERB dan Unit Pemerkasaan Ekonomi Bumiputera.

 

  1. Sebagai membuktikan komitmen Kerajaan terhadap agenda Bumiputera, MEB yang dipengerusikan oleh saya sendiri dan kita telah menetapkan ia bersidang sekurang-kurangnya setiap sebulan sekali dan jika berkeperluan lebih dari sekali, dengan memanggil pelbagai pihak Bumiputera yang berkepentingan menurut isu yang berbangkit untuk dibincang serta diselesaikan.

 

  1. Demikianlah tingginya martabat yang diletakkan oleh Kerajaan pimpinan saya, terhadap ehwal Bumiputera, kerana dalam hierarki kekerapan mesyuarat utama selepas Kabinet, saya letakkan mesyuarat berkaitan Bumiputera.

 

  1. Malah, tidak pernah diperbuat sebelum daripada ini, ditubuhkan Unit Pemerkasaan Ekonomi Bumiputera di semua 24 kementerian termasuk Jabatan Perdana Menteri.

 

  1. Bahkan, saya telah mengarahkan agar agenda Bumiputera menjadi pertimbangan penting pada sebarang keputusan GLC dan GLIC.

 

  1. Menerusi SUPERB yang memperuntukkan sejumlah 100 juta ringgit sebagai modal permulaan, setakat ini telah berjaya membantu seramai 125 orang anak muda di bawah umur 40 tahun, merealisasikan idea perniagaan mereka yang inovatif, dengan jumlah keseluruhan geran bernilai 5 juta ringgit.

 

  1. Saya mahu mengambil contoh kejayaan saudara Muhamad Nuruzon Wagiman, berusia 26 tahun yang berasal dari Muar, Johor.
  2. Beliau telah menubuhkan Nuruzon Technology Resources Sdn Bhd dengan membina sebuah bengkel yang lebih bersistematik dan mempunyai O.P. dalam pembuatan jentera gerabak. Kepada anak muda berjiwa kental ini, syabas diucapkan!

 

Tuan-Tuan dan Puan-Puan Sekalian,

 

  1. Melalui kedua-dua Agenda Pemerkasaan Ekonomi Bumiputera pada tahun 2011 dan 2013 tersebut, Alhamdulilah, setakat Mac 2017, sejumlah 108 bilion ringgit berjaya dijana melalui kesemua inisiatif Bumiputera.

 

  1. Daripada jumlah tersebut, sebanyak 80 bilion ringgit adalah daripada peluang perniagaan Bumiputera, khususnya 54 bilion ringgit melalui dasar “Carve-out and Compete.”

 

  1. Contoh terbaik Carve Out and Compete yang ingin saya kongsikan adalah kejayaan fasa pertama projek InfraRakyat mega yakni MRT Jajaran Sungai Buloh-Kajang sepanjang 51 kilometer.

 

  1. Bagi projek MRT Fasa 1 sahaja, daripada nilai pakej pembangunan projek 2 bilion ringgit, sebanyak 51 peratus telah diberikan kepada kontraktor Bumiputera.

 

  1. Mustahaknya tuan-tuan dan puan-puan, dalam penganugerahan kontrak atau tender, if we choose the right Bumiputera, dalam erti kata bukan sekadar atas dasar kawan mahupun kroni, tetapi kalau kenalan sekalipun, mestilah Bumiputera yang berdasarkan merit dan kebolehan.

 

  1. Ini akan mempastikan kontraktor berjaya menyiapkan projek mengikut jadual dan menepati bajet kos pembinaan yang ditetapkan.

 

  1. Bahkan, Kerajaan komited untuk menyediakan 50 peratus tempat-tempat perniagaan baru lain yang strategik seperti di stesen-stesen MRT, sebagai memberi ruang dan membuka peluang kepada usahawan Bumiputera. Tidak lagi di tempat-tempat yang gelap, tersorok dan langsung tidak mempunyai daya komersial.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Lantaran demikian, pada perjumpaan penuh bermakna lagi bersejarah ini, kita akan menongkah Halatuju Transformasi Ekonomi Bumiputera yang selanjutnya.

 

  1. Pucuk pangkalnya, kita tidak boleh berhenti setakat ini atau berasa selesa dan berpuas hati berada pada takuk yang sama, iaitu menjadi jaguh kampung semata-mata.

 

  1. Untuk itu, hasil dapatan daripada Makmal Sindikasi Hala Tuju Transformasi Ekonomi Bumiputera 2.0, beberapa penambahbaikan telah diterima dan akan diberi pertimbangan.
  2. Lantaran itu, bagi membawa komuniti dan usahawan Bumiputera yang lebih berfokus, berdaya maju, kreatif serta inovatif dan bersedia untuk bersaing di peringkat global, pada petang ini saya ingin membentangkan satu lembaran berwajah baharu kepada perjuangan memperkasakan Agenda Bumiputera, yang saya namakan sebagai,… Transformasi Kesejahteraan Bumiputera atau TKB.

 

  1. Kenapa T.K.B.,…? Kerana jika sebelum ini, Agenda Bumiputera lebih tertumpu kepada sudut ekonomi sahaja.

 

  1. Maka, pada hari ini, apa yang saya mahukan ialah Transformasi Kesejahteraan Bumiputera ini bersifat inklusif atau terangkum lagi holistik.

 

  1. Maksudnya di sini, dalam membela dan memperkasakan Agenda Bumiputera, ia tidak terhad kepada bidang-bidang tertentu seperti ekonomi semata-mata,…

 

  1. Bahkan lebih mustahak dan jauh daripada itu, Transformasi Kesejahteraan Bumiputera ini, turut merangkumi segenap aspek Kesejahteraan Hidup seperti pendidikan, kesihatan, sosial dan budaya, duduk dalam persekitaran yang selesa serta dinamik, seraya membela untung nasib serta mengangkat martabat Bumiputera ke tahap yang lebih tinggi.

 

Tuan-Tuan dan Puan-Puan Sekalian,

 

  1. Sesungguhnya lagi, Transformasi Kesejahteraan Bumiputera sebagai memasuki Fasa Kedua yang berasaskan kepada Lima Transformasi Utama Bumiputera:

 

  1. Pertamanya: Dengan Cara Melonjakkan Skala Bumiputera. Seperti yang kita maklumi, terdapat pelbagai fasa dan kategori syarikat Bumiputera di Malaysia, dari yang berskala kecil atau mikro, sederhana hinggalah kepada yang berskala besar dan bertaraf antarabangsa.

 

  1. Justeru, apa yang kita mahukan adalah, mempastikan setiap syarikat Bumiputera ini mempunyai laluan yang jelas dari fasa permulaan perniagaan sehingga fasa matang seperti sebuah syarikat Multi-Nasional Bumiputera.

 

  1. Ertinya di sini, bagi setiap peringkat perniagaan, Kerajaan telah menyediakan pelbagai kemudahan, sebagai pemangkin untuk sesebuah perniagaan itu meningkat maju ke fasa yang selanjutnya.

 

  1. Misalnya, sesebuah perniagaan mikro berpeluang menjadi syarikat SME, dan seterusnya menjadi syarikat besar yang mampu menjana pendapatan lumayan serta satu hari nanti, tersenarai di Bursa Saham, dan berkebolehan untuk mengeksport produk ke luar negara.

 

  1. Sebagai contoh, Kerajaan memperkenalkan Skim Jejak Jaya Bumiputera atau SJJB bagi membantu meningkatkan jumlah syarikat untuk disenaraikan secara kolaborasi dengan Ekuiti Nasional atau EKUINAS.

 

  1. Pada tahun 2011, program SJJB telah diletakkan di bawah TERAJU di mana pada ketika itu sebanyak 5 syarikat Bumiputera telah berjaya disenaraikan di Bursa Malaysia dengan jumlah nilai modal pasaran yang direkodkan ketika itu hanyalah sebanyak 969 juta ringgit

 

  1. Syukur,… Kini, program SJJB telah berjaya menambah 8 lagi syarikat Bumiputera ke Bursa Malaysia dan telah mencatatkan jumlah nilai pasaran sebanyak 8 billion ringgit.

 

  1. Jika dibandingkan dengan nilai pasaran mereka ketika IPO, kesemua 13 syarikat SJJB ini telah mencatatkan pertumbuhan nilai modal pasaran sebanyak 5 billion ringgit.

 

  1. Contoh terkini, Serba Dinamik Holdings Berhad dari Sarawak, merupakan syarikat yang ke-13 dari program ini, selepas hanya satu bulan disenaraikan, modal pasarannya telah meningkat sebanyak 20 peratus iaitu daripada 2 bilion ringgit kepada 4 bilion ringgit pada Mac 2017. Tahniah kita ucapkan!

 

Tuan-Tuan dan Puan-Puan,

 

  1. Merujuk kepada usahawan mikro pula, melalui dapatan Makmal Sindikasi TKB, secara puratanya terdapat sembilan daripada 10 buah syarikat Bumiputera di negara ini yang masih berskala mikro.

 

  1. Justeru itu, saya menyarankan agar organisasi dan syarikat besar yang mendapat kontrak serta konsesi Kerajaan termasuklah GLIC dan GLC untuk melaksanakan Dasar Mesra-Bumiputera Mikro dan Kecil.

 

  1. Seterusnya, program penembusan pasaran atau market access akan diperkenalkan sebagai sebahagian daripada program pembangunan keusahawanan, terutamanya dalam e-dagang atau e-commerce.

 

  1. Juga, untuk meluaskan pasaran perniagaan mereka, usaha pengantarabangsaan syarikat-syarikat Bumiputera akan dilaksanakan termasuklah pembangunan produk dan perkhidmatan yang memenuhi spesifikasi eksport atau export-ready, pembangunan pusat pengedaran di luar negara dan kerjasama dengan MATRADE.

 

  1. Jelas sekali, TKB diperlukan bagi memastikan pelan-pelan dapat dilaksanakan secara berkesan dalam setiap fasa ini.

 

 

Tuan-Tuan dan Puan-Puan,

 

  1. Transformasi Kesejahteraan Bumiputera yang keduanya ialah dengan cara Memperkasakan Modal Insan Bumiputera. Sebagai penduduk majoriti di negara ini, seharusnya, Bumiputera menjadi penyumbang utama kepada pembangunan dan ekonomi negara, termasuklah di bidang akademik, agama, sains teknologi, kebudayaan mahupun sukan.

 

  1. It is my hope and dream, to see we produce world class sportsmen, more world class scientists, artists, novelists and InsyaAllah, one day, Nobel Prize winners.

 

  1. Sebenarnya, pemerkasaan modal insan kaum Bumiputera, bukan sahaja terhad kepada peningkatan ilmu pengetahuan dan kemahiran semata-mata, tetapi juga peningkatan jati diri dari segi jasmani dan rohani.

 

  1. Dari perspektif ekonomi pula, pemerkasaan modal insan haruslah dibina untuk mensiap-siagakan kaum Bumiputera menghadapi pelbagai arus cabaran dari dalam dan luar negara.

 

  1. Menjengah sudut pemikiran dan budaya kerja, untuk maju dan bergerak ke hadapan, kita seharusnya mampu melakukan anjakan paradigma supaya tidak terperangkap dalam kepompong pemikiran konvensional.

 

  1. Apabila kita menuju Transformasi Kesejahteraan Bumiputera, ia bererti dasar Bumiputera yang melahir dan mencerminkan budaya tinggi, high order thinking skills, high performance culture dan high resilience, yang sesekali tidak mudah menyerah kalah.

 

  1. Malah, sudah sampai masanya untuk kita menjadikan kreativiti dan inovasi sebagai pemacu kepada penjanaan kekayaan dan berdaya maju agar usahawan atau syarikat Bumiputera mampu berdiri sama gagah, bersaing megah dengan usahawan-usahawan lain.

 

  1. What is important here, we Bumiputera have the capacity to be at par with the rest as long as we are willing to shift our paradigm and embrace innovation.

 

  1. Makanya, yakinlah pada kebolehan diri sendiri, sepertimana saya yakin dengan kemampuan masing-masing. Maksudnya, untuk anda lebih berjaya, bukan sahaja di halaman sendiri, malah juga menembusi pasaran antarabangsa.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Transformasi Kesejahteraan Bumiputera yang ketiganya ialah dengan cara Meningkatkan Daya Saing Bumiputera.

 

  1. Sebetulnya, kedudukan Bumiputera kini lebih baik dari dahulu. Jika sebelumnya, syarikat Bumiputera sering dikaitkan dengan kontrak yang mahal ataupun kualiti yang kurang memuaskan.

 

  1. Tetapi kini, kita berbangga, mutu kerja dan penyampaiannya adalah tinggi, setanding dengan syarikat bukan Bumiputera, mahupun syarikat antarabangsa.

 

  1. Sebagai contoh, dasar Carve Out and Compete menyediakan ruang dan peluang kepada syarikat Bumiputera untuk mendapat kontrak dan menyertai projek-projek mega yang ditawarkan oleh Kerajaan, GLC dan swasta berdasarkan merit sesama Bumiputera, di samping rekod cemerlang dan keupayaan untuk deliver atau membuat penyampaian.

 

  1. Setelah melihat kejayaan pelaksanaan program ini, Kerajaan berhasrat untuk memperluaskannya beyond projek-projek infrastruktur seperti sektor perkhidmatan.

 

  1. Sukacita saya maklumkan, setakat ini, peluang penyertaan Bumiputera melalui Carve Out and Compete secara keseluruhannya telah mencapai 2 peratus atau bersamaan 54.24 bilion ringgit.

 

  1. Contohnya, Projek Lebuhraya Pan Borneo yang bermula dari jajaran Teluk Melano ke Lawas di Sarawak, sejauh 1,089 kilometer, membawa ke Sabah dari Sindumin hingga ke Tawau, sepanjang 1,236 kilometer, program Carve Out dan Compete dijangka akan mencecah 60 peratus penyertaan kontraktor Bumiputera.

 

  1. Bercakap tentang industri pembinaan ini, suka saya menyentuh tentang kaedah Industrialised Building System atau IBS yang melibatkan kos yang rendah, penjimatan masa pembinaan dan bersifat lestari.

 

  1. Oleh itu, kita akan menumpukan penggunaan teknologi IBS ini di dalam kebanyakan projek-projek Kerajaan, dan   saya mahu serta galakkan lebih banyak penyertaan kontraktor Bumiputera dalam bidang teknologi IBS ini.

 

  1. Melalui contoh-contoh di atas, saya menyarankan agar syarikat-syarikat Bumiputera yang lain perlu mengambil contoh kejayaan itu, membina daya saing yang tinggi, terutamanya dalam menghadapi pasaran terbuka di arena global.

 

Tuan-Tuan dan Puan-Puan,

 

  1. Transformasi Kesejahteraan Bumiputera yang keempatnya ialah dengan cara Mendaya Mobiliti Sosial Bumiputera.

 

  1. Sesungguhnya, Kerajaan amat prihatin dan mementingkan kesejahteraan hidup rakyatnya. Apa yang kita hasratkan dari masa ke semasa, Kerajaan dapat membantu meningkatkan status ekonomi dan kualiti hidup rakyatnya kepada yang lebih baik serta selesa.

 

  1. Dalam konteks Malaysia, mobiliti sosial yang Kerajaan mahukan ialah berlakunya peningkatan taraf hidup rakyat daripada kepompong persekitaran yang rendah kepada tahap yang lebih tinggi. Ia juga boleh dilihat dari pelbagai aspek seperti pendidikan, kemahiran pekerjaan dan pendapatan.

 

  1. Maksudnya, berlaku perubahan status individu dan masyarakat daripada miskin menjadi kaya, mereka yang unskilled dilatih menjadi berkemahiran tinggi serta golongan berpendapatan rendah pula, akan menikmati pendapatan yang lebih tinggi.

 

  1. Malahan, melalui pelaksanaan secara pragmatik oleh Kerajaan, telah meningkatkan mobiliti sosial negara ini menjadi di antara yang terbaik di dunia, setara dengan negara maju seperti Kanada, bahkan lebih baik dari negara Sweden dan Jerman.

 

  1. Contohnya, anak-anak petani dan nelayan di negara ini, cuma melalui satu generasi sahaja, telah mampu memperbaiki taraf kehidupan mereka, sehingga ada yang telah memegang jawatan utama negara seperti profesor, ketua eksekutif dan menteri. Malah, kita juga berjaya dalam beberapa bidang profesional seperti perubatan dan kejuruteraan.

 

  1. Pada sudut ini, Digital Economy atau Ekonomi Digital yang menjadi industry of the future, berpotensi sebagai salah satu lonjakan dalam mobiliti sosial. Justeru, baru-baru ini, saya telah melantik Jack Ma, seorang bilionair terkemuka dari negara China, sebagai Penasihat Khas Ekonomi Digital kepada Kerajaan Malaysia.

 

  1. Malah, pada 23 Mac 2017 pula, saya telah melancarkan Zon Perdagangan Bebas Digital atau DFTZ, hab ekonomi pertama di dunia di luar China, yang memberi tumpuan terhadap pengembangan pasaran digital usahawan PKS dan usahawan muda.

 

  1. Melalui inisiatif seperti ini, Ekonomi Digital dijangka mampu mewujudkan 60 ribu peluang pekerjaan baharu, sekaligus berupaya menyumbang lebih 20 peratus penghasilan kepada KDNK negara.

 

  1. Mustahak untuk difahami oleh Bumiputera bahawa, menjadi hasrat saya apabila DFTZ diwujudkan, ia memungkinkan a level playing field atau padang saingan terbuka bagi Bumiputera bebas-lepas untuk menembus masuk pasaran dengan lebih meluas.

 

  1. Peluang sebeginilah yang sepatutnya usahawan Bumiputera teroka dan ceburi, kerana pada masa ini, saya lihat kebanyakan usahawan Bumiputera hanya menumpukan perniagaan di peringkat domestik sahaja yang mana pasarannya sangat terhad.

 

  1. Jadinya, boleh saya rumuskan bahawa, mobiliti sosial ini perlu terus diperkasakan demi manfaat masyarakat Bumiputera.

 

 

 

  1. Kelimanya ialah dengan men-Transformasi Kesejahteraan Bumiputera secara tuntas dan holistik.

 

Dalam hal ini, sebagai tambahan dan pelengkap kepada 30 peratus ekuiti yang disasarkan melalui DEB, sesuai dengan tuntutan zaman masa kini serta menuju TN50,….

 

Pencapaian ekonomi Bumiputera juga akan diukur dari segi pendapatan korporat dan isi rumah, peningkatan bilangan profesional berdaftar serta penyertaan di peringkat pengurusan dan berkemahiran tinggi.

 

  1. Maknanya, kalau selama ini DEB melihat dari segi pegangan ekuiti Bumiputera dalam sektor korporat sebagai penanda aras, TKB kini mengambil kira dimensi-dimensi yang lebih meluas dalam mengukur kesejahteraan Bumiputera.

 

  1. Sebagai contoh, usaha gigih Kerajaan selama ini telah pun membuahkan hasil di mana, purata pendapatan isi rumah Bumiputera, telah meningkat daripada 3,624 ringgit pada tahun 2009, kepada 5,548 ringgit pada tahun 2014, iaitu sebanyak 53 peratus.

 

  1. Lanjutan itu, TKB ini, bukan sahaja menjadi Agenda Nasional, bahkan ia dijadikan juga sebagai asas kepada dasar-dasar, pelan induk dan tindakan, dalam setiap insiatif yang dilaksanakan oleh Kerajaan yang melibatkan pemerkasaan ekonomi Bumiputera.

 

  1. Bertolak dari itu, hendak saya pertegaskan bahawa, Kerajaan ini merupakan Kerajaan yang bertanggungjawab. Kerajaan ini akan terus berjuang dalam membela untung nasib orang-orang Melayu dan Bumiputera, sama ada Bumiputera Islam mahupun bukan Islam.

 

  1. Semestinya juga, Kerajaan ini akan terus memperjuangkan kepentingan seluruh lapisan rakyat Malaysia, demi keamanan dan kestabilan, makmur serta sejahtera.

 

PENUTUP

 

Tuan-Tuan dan Puan-Puan Serta Rakyat Malaysia Yang Dikasihi Sekalian,

 

  1. Ahli cerdik pandai pernah menyebut bahawa, meski dunia ini dipenuhi dengan persaingan, namun bagi mereka yang bijaksana akan pantas menyerlahkan potensi diri, sentiasa optimis menghadapi segala rintangan dengan penuh daya, sehingga mampu mencapai kejayaan.

 

 

 

 

  1. Kesimpulannya, jika diamati dan dirumuskan, berdasarkan apa yang telah saya sampaikan, menjadi bukti bahawa, impak dasar yang membabitkan Kesejahteraan Bumiputera di negara ini, di mana manfaatnya tetap dan turut dinikmati oleh semua kaum.

 

  1. Oleh itu, kepada orang-orang Melayu serta Bumiputera Islam dan Bukan Islam, yang menginduki negara ini, usahlah berasa gundah serta bimbang, kerana, selagi nyawa dikandung jasad, agenda Transformasi Kesejahteraan Bumiputera atau TKB ini akan tatap kita perjuangkan sampai bila-bila.

 

  1. Atas segalanya, Saya,… bersama-sama dengan YAB Dato’ Seri Dr. Ahmad Zahid Hamidi, berserta barisan Jemaah Menteri, demi Melayu,… demi Bumiputera,… demi rakyat Malaysia seluruhnya,… kita akan bersatu hati, seiya dan sekata, untuk terus berjuang memakmurkan negara, sehingga terjulang berada pada kedudukan negara 20 termaju di dunia.

 

  1. Di atas segalanya, ketahuilah bahawa, setelah 45 tahun berlalu, daripada Dasar Ekonomi Baru yang dimulakan oleh Ayahanda saya, perjuangan saya demi Kesejahteraan Bumiputera bukanlah sekadar di atas sifat dan kedudukan saya selaku pemimpin dan Perdana Menteri, tetapi sebenarnya ia datang dari leluhur saya yang ikhlas dan jujur sebagai seorang pemimpin yang sangat sayang akan jati bangsanya.

 

  1. Pokoknya, kita mahu melihat akan munculnya masyarakat Bumiputera yang dapat merasai setiap daripada detik nikmat kemajuan negara.

 

Kerana itulah erti sebenarnya kesejahteraan dan kemakmuran kepada Bumiputera.

 

  1. Kendati itu, ingatlah bahawa:

 

Negaraku ini Berdaulat Terbilang,

Tanah Tumpah Darah Pejuang,

Meski Diasak Oleh Penentang,

Jangan Sampai Dirampas Orang.

 

Masyarakat Majmuk Formula Keramat,

Walau Didomba oleh Petualang,

Hiduplah Malaysia Damai dan Selamat,

Hak Bumiputera Selamanya Dijulang.

 

  1. Akhirul Kalam, dengan lafaz Bismillahi Rahmanir Rahim, saya dengan sukacitanya melancarkan Transformasi Kesejahteraan Bumiputera.

 

HIDUP BUMIPUTERA!

HIDUP MALAYSIA!

 

Wabillahi Taufik Walhidayah, Assalamualaikum Warahmatullahi Wabarakatuh

*Updated 2100hrs

Published in: on April 19, 2017 at 16:30  Leave a Comment  

Fact News

In the age of ‘Fake News’ making its way in the minds of many, facts are often denied even amongst the educated and professional lot through the advancement of ICT technology.

One instance is the financial position of the strategic investment company 1MDB, which was turned from actual commercial problems into scandalous by very irresponsible Malaysians, especially the Opposition.

Malaysiankini story from Parliament this morning:

PM: 1MDB has cleared its bank debts, short-term debts

30 Mar 2017, AM 11:01 (Updated 30 Mar 2017, PM 12:01)

Prime Minister Najib Abdul Razak has said 1MDB, which has incurred debts up to RM50 billion as of January 2016, has cleared all its bank debts and short-term debts.
“For now, 1MDB does not have any bank debt and short-term debt,” said Najib, in his capacity has finance ministry, said in a written parliamentary reply yesterday.
According to the ministry, 1MDB made the following repayments:
Paid off RM229.5 million revolving credit facility to Affin Bank in full by Nov 23, 2015.

Cleared RM950 million standby credit to the government in full by March 31, 2016.

Repaid RM2 billion term loan facility to Marstan Investment NV by April 8, 2016.

Cleared US$150 million term financing facility with EXIM Bank by April 15, 2016.
Najib was responding to Er Teck Hwa (DAP-Bakri) who requested the updated figures on 1MDB’s staff, cash flow, debts and assets.
“Due to the ongoing rationalisation plan of 1MDB, there are no new assets acquired (by the state-owned firm) in the country and overseas, in 2015 and 2016,” added the prime minister.
Under the 1MDB rationalisation plan, Najib noted that 1MDB has reduced its staff strenght from 35 as of Dec 31, 2015 to 17 staff as of Dec 31, 2016.
“By selling off the Edra Global Energy Bhd’s asset, Syarikat Bandar Malaysia Sdn Bhd’s equity and the land for the Tun Razak Exchange project, 1MDB acquired RM10.97 billion in 2015 and 2016,” he added.
According to Public Accounts Committee’s (PAC) report on 1MDB, the state-owned fund’s debt has increased ten time from RM5 billion in 2009 to RM50 billion in 2016.
1MDB was reportedly had paid RM3.3 billion in interest from April 2013 to March 2015.
1MDB, which had asset valued at RM53 billion as of January 2016, had since stripped various assets and equity stakes to clear off its debts.
https://m.malaysiakini.com/news/377487

************

And NST story:

1MDB now debt-free: Finance Ministry

By Nik Imran Abdullah – March 30, 2017 @ 12:17pm
KUALA LUMPUR: The 1Malaysia Development Bhd (1MDB) fund is now debt-free, as it has repaid in full all its bank loans amounting to almost RM4 billion, the Dewan Rakyat was told today.

The Finance Ministry said the debts, including a standby credit facility from the federal government, were paid in 2015 and 2016.
“As of now, 1MDB does not owe anything to banks, nor has short-term debts,” the ministry said in a written reply to Er Teck Hwa (DAP-Bakri).

The ministry said 1MDB made full settlement, amounting to RM229.5 million, for a revolving credit facility to Affin Bank, on Nov 23, 2015.

On March 31, 2015, 1MDB paid the full amount of RM950 million to the federal government for a standby credit facility.

On April 8, last year, RM2 billion was paid to Marstan Investments N.V. for a term loan facility.

On April 15, last year, 1MDB paid in full a term-financing facility amounting to US$150 million to EXIM Bank.

The ministry also said 1MDB had raised cash amounting to RM10.97 billion through sales of assets in Edra Global Energy Bhd, part of equities in Bandar Malaysia Sdn Bhd, and land for the Tun Razak Exchange project in 2015 and last year.

“As the rationalisation plan of 1MDB is ongoing, no new assets were acquired in 2015 and last year,” the ministry said.

In line with the plan, the ministry said the number of 1MDB employees is 17 as of Dec 31, last year, down from 35 staff on Dec 31, the previous year.

**************

Prime Minister Dato’ Sri Mohd. Najib Tun Razak acting as the Minister of Finance responded to a DAP MP’s querry, through a written reply in the Dewan Rakyat.

The Opposition since 2012 made the 1MDB the most controversial and later contentious issues ever thrown against a corporation owned by the Malaysian Government, which was supposed to implement strategic programs such as high end property and energy sectors.

Despite explanations made, even on formal platforms such as replies in the Parliament, the Opposition to continue to make the 1MDB issue continue to be contentious.

Second Finance Minister Dato’ Sri Johari Abdul Ghani did offer detailed explanation on 1MDB, as a response to DAP Strategic Director Tony Pua’s dramatised ‘Open Letter’.

COMMENT I refer to a press statement issued today by YB Tony Pua.

YB Tony Pua is well-versed in the facts concerning 1MDB, given he is a member of the Public Accounts Committee (PAC). Thus, it is disappointing to note that he has chosen to misrepresents the facts and has accused me of lying, in his desperate attempts to mislead the rakyat.

The matter at hand is clear, simple and has been publicly explained, as evidenced in page 81 of the PAC Report on 1MDB.

The facts are as follows:
1. The TRX and Bandar Malaysia lands were originally owned directly by the government. The government made a decision to sell the lands in 2010 and 2013 respectively, to 1Malaysia Development Berhad (1MDB), a holding company 100 percent owned by MOF Inc. 1MDB in turn owned the lands via its 100 percent equity shareholding in two subsidiary companies, ie TRX City Sdn. Bhd. (TRXC) and Bandar Malaysia Sdn. Bhd. (BMSB).
2. It is clear that from the above transactions, the government ownership of the lands shifted from direct to indirect ownership, via MOF Inc ultimate ownership of 1MDB and its subsidiary companies.
3. Although the Bandar Malaysia land was sold at a nominal sum to BMSB, there was a responsibility to construct/upgrade six bases for the Royal Malaysian Air Force (RMAF) and two bases for the Royal Malaysian Police (PDRM), for a total development cost of RM 2.7 billion, of which 1MDB had to contribute RM1.6 billion.
4. Although the TRX land was sold at a nominal sum to TRXC, there was a responsibility to construct infrastructure not only in TRX but also in the surrounding areas, including a vehicular tunnel under Jalan Tun Razak, for a total sum of approximately RM 3 billion.
5. TRXC and BMSB undertook debts of RM 800 million and RM2.4 billion respectively, to undertake the construction of infrastructure and the six air force/two police bases referred to above. These debts were always attached to the said land when these two companies raised their financing and thus form part of the security for the said debts. In other words, it is an operating debt of these two companies.
6. With the infrastructure development and planning approvals obtained by TRXC and BMSB from 2010/2013 to the present day, the value of the TRX and Bandar Malaysia lands have increased in value significantly.
6. The PAC recommended in April 2016 that MOF Inc take over direct ownership of Bandar Malaysia and TRX lands from 1MDB. The most efficient and cost-effective way to achieve this is via a transfer of TRXC and BMSB shares to MOF Inc. So, instead of owning those companies via 1MDB, MOF Inc will directly own BMSB and TRXC, along with all the assets and the operating debts of the respective companies.
7. The TRXC and BMSB debts will be repaid by future cashflows of these companies as described in page 81 of the PAC Report. Further, whilst TRXC will continue to be 100 percent owned by MOF Inc, it is pertinent to note that a sale and purchase agreement has been executed with a consortium for the sale of 60 percent equity shareholding in BMSB.
8. More importantly, page 81 of the PAC Report also makes clear that the debts that will remain on the balance sheet of 1MDB are the RM 5 billion sukuk, the US$3.0 billion bond and the 2x US$1.75 billion bonds. These 1MDB debts will be serviced from matching cashflows, as described in the PAC Report.

Whilst MOF Inc will not be taking over these 1MDB debts, the substance of the letter of support and guarantee from the government, remains intact, as described in the PAC Report.

There is therefore a clear distinction between 1MDB debts, which will not be taken over by MOF Inc, and the BMSB/TRXC project company operating debt, which are part of the assets and liabilities of the company and which will be serviced from the project cash-flows.
JOHARI ABDUL GHANI is Second Finance Minister.
https://m.malaysiakini.com/news/375939

**********

1MDB was made contentious when Fourth Prime Minister Tun Dr. Mahathir Mohamad openly attacked Prime Minister Najib exactly two year ago this month. His baseless accusations then “1MDB lost RM42 billion!”.

Tagged team with foreign media which include the Neo Con Jewish controlled Wall Street Journal, a serious of reporting made without verified evidence and named sources (supposedly, ‘authorities’ on the matter), which spurred the 1MDB matter to be scandalous.

It was then clear that the 1MDB issue was an excuse to demonise Prime Minister Najib and his administration, in the strategic play to oust him (then attempts to trigger a ‘revolution’ amongst the Cabinet, UMNO Supreme Council, UMNO General Assembly and eventually Parliament through a vote of no confidence).

However, it failed all the way.

Aides of Dr. Mahathir even went overseas to lodge reports to the authorities in Singapore, Hong Kong, Australia, Switzerland, United Kingdom and United States based on so called ‘evidence’, which many are not properly verified and speculative and some are even fabricated.

MOF II Johari also said in Parliament two weeks ago 1MDB is the most investigated corporation in the Malaysian history. So far except for being reprimanded for flogging bureaucratic regulations, no personalities from the strategic investment corporation have yet to be charged because lack of implicating evidence.

Despite all of these reports and complaints lodged all over the world the past two years, there is no progress on the investigations which implicated 1MDB in any criminal activities.

Yet, parties attempting hard to demonise Prime Minister Najib and his administration such as Dr. Mahathir, the Opposition and foreign media been using terms such as “Kleptocracy”.

The fact remains that 1MDB is a corporation which embarked on various diversified tracks faced commercial issues.

 

Published in: on March 30, 2017 at 12:59  Comments (1)  

Mantan Wartawan Sumbang Sabotaj Ekonomi

Pengadu-domba dan mereka yang berdusta sebagai modal strategi politik untuk meningkatkan kedudukan mereka dikalangan rakyat dengan menghasut dan memburukkan pemimpin, walaupun ianya akan menjejaskan kemakmuran negara.

Terdapat pelbagai khabar angin dan pembohongan yang engage diada-adakan tau dimanipulasi dari fakta atau kenyataan sebenar hanya dengan objektif untuk mencapai menimbulkan kebencian dan menggurangkan keyakinan keatas kepimpinan dan dakar dan program-program strategi yang diusahakan.

Ini termasuk program strategik pembangunan ekonomi, yang bakal akan jadi pemangkin dan ‘penggerak permainan’ (game changer) seperti projek Refinery and Petrochemical Integrated Development (RAPID) di Timur Laut Johor.

Ianya merupakan pelaburan strategik Petronas paling besar setakat ini yang dianggarkan berjumlah RM60 billion dan program utamanya ialah Penggerang Integrated Complex (PIC). PIC dirancang untuk kapasiti memproses dan menyaring sehingga 300,000 tong minyak mental sehari.

Kunjungan ulung Raja Salman Al Saud pemerintah Arab Saudi bulan lepas telah menyaksikan Petronas memeterai perjanjian dengan Aramco Saudi, dimana syarikat ‘seven sisters‘ itu akan melabur RM6 billion dalam projek PIC.

Laporan Utusan Online:

Petronas, Saudi Aramco meterai SPA RAPID

AHMAD SHAZWAN MD. YUSOF
28 Februari 2017 3:25 PM

KUALA LUMPUR 28 Feb. – Petroliam Nasional Berhad (Petronas) dan Saudi Aramco hari ini menandatangani Perjanjian Pembelian Saham (SPA) bagi penyertaan ekuiti syarikat minyak Arab Saudi itu dalam projek Pembangunan Bersepadu Penapisan Minyak dan Petrokimia (RAPID) di Pengerang, Johor.

Majlis pemeteraian itu disaksikan oleh Raja Arab Saudi, Raja Salman Abdulaziz Al-Saud dan Perdana Menteri, Datuk Seri Najib Tun Razak di sini.

Petronas diwakili Presiden dan Ketua Pegawai Eksekutif Kumpulan, Datuk Wan Zulkiflee Wan Ariffin sementara Saudi Aramco pula diwakili oleh Presiden dan Ketua Pegawai Eksekutifnya, Amin H. Nasser.
Yang turut hadir, Menteri di Jabatan Perdana Menteri, Datuk Seri Abdul Rahman Dahlan dan Menteri Tenaga, Industri dan Sumber Galian Arab Saudi, Khalid Al-Falih.

Menerusi transaksi jual beli saham itu, kedua-dua syarikat akan memiliki pegangan ekuiti sama rata ke atas beberapa projek dan aset penapisan minyak, loji perekah dan kemudahan petrokimia RAPID dalam Kompleks Bersepadu Pengerang (PIC) dengan sejumlah AS$7 bilion (RM31 bilion) bakal dijana menerusi kerjasama berkenaan.

Menurut Wan Zulkiflee, PIC merupakan salah satu projek terbesar di Asia Tenggara dan pelaburan terbesar Petronas bagi sektor hiliran.

“Perjanjian ini merupakan peristiwa bersejarah bagi industri minyak dan gas kerana dua syarikat minyak terkemuka berkongsi dalam membangunkan projek baharu bertaraf dunia.

“Perkongsian ini bakal mengukuhkan lagi kedudukan, pengalaman operasi serta prestasi kedua-dua syarikat dalam membangunkan projek-projek mega serta rangkaian komersial dalam pelbagai pasaran global,” katanya. – UTUSAN ONLINE

Artikel Penuh: http://www.utusan.com.my/bisnes/ekonomi/petronas-saudi-aramco-meterai-spa-rapid-1.450173#ixzz4c6gWTiPV
© Utusan Melayu (M) Bhd

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Ianya bukti kerjasama erat bukan sahaja diantara dua negara Islam ini tetapi dua pemimpin, yang saling mempunyai penghormatan dan keyakinan tinggi sesama mereka.

Pelaburan ini secara automatiknya melenyapkan laporan media asing sebelum itu berkenaan Saudi Aramco menarik diri keluar dari rancangan untuk melabur di RAPID.

Laporan Reuters pada 27 Januari 2017:

Aramco snub puts Malaysia’s Petronas in tight spot over RAPID project

By Emily Chow and A. Ananthalakshmi | KUALA LUMPUR
Saudi Aramco’s decision to shelve a plan to partner with Malaysia’s state oil company threatens the country’s ambitious plans for an oil and gas processing hub, which it may struggle to keep on course if it cannot find another foreign investor.

The Saudi oil major suspended plans for a joint venture with Petroliam Nasional Berhad, or Petronas, on the $27 billion project in the southern Malaysian state of Johor due to concerns it would not yield high returns, sources told Reuters this week.

Petronas – which has been hit hard by the slump in oil prices, cutting jobs, capital expenditure and its contribution to government coffers – insists the Refinery and Petrochemical Integrated Development (RAPID) project at Pengerang, on Malaysia’s southern tip, remains on track and will begin operations as planned in 2019.

Analysts say the project is too politically important for Prime Minister Najib Razak, mired in a corruption scandal involving state fund 1MDB, to be scrapped or drastically pared back, but believe Petronas will need a strategic investor to bring in funds and industry expertise.

“They may scale it down, but it’s going to go ahead. It might get staggered,” said Subbu Bettadapura, senior director of energy, Asia Pacific, at consultancy Frost and Sullivan.

“(Malaysia) would definitely try to channel funds into Pengerang because a lot is riding on that. All the forces, political and industrial, would be trying to make this a reality.”

Industry analysts and consultants say Petronas is in talk with other foreign investors.

Najib – who has said RAPID will create jobs, raise standards of living and boost the country’s economy – will want to ensure the project in electorally key Johor state faces no further hurdles before the next national election due by 2018.

With Western oil majors also hurting from a slump in oil prices, the most likely solution for RAPID would be to recruit Chinese players to partner with Petronas.

Some analysts say cash-rich Chinese refiners looking to expand into new markets could be interested in RAPID.

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Najib has been moving closer to Beijing diplomatically as the fallout from the 1MDB scandal strains ties with the United States, returning from a November state visit to China with about $34 billion in deals.

“Najib needs to ensure that RAPID can still go on,” said Achmad Sukarsono, analyst at political risk consultancy Eurasia Group. “Politically Najib would want to involve China more.”

PROJECT ECONOMICS

Others, however, caution that RAPID may not make sense for China, which already has enough refineries to meet even its huge oil thirst. Chinese energy firms, they say, would rather invest in more crude production.

A bigger concern is the economics of the project, which have been called into question after sources said Aramco had concluded it would not generate sufficient returns.

Petronas said in a statement on Thursday that RAPID – which includes a 300,000-barrel-per-day oil refinery producing gasoline and diesel – was expected to deliver positive returns and value as planned.

The project, part of the huge Pengerang Integrated Petroleum Complex (PIPC), was announced in 2011 when oil traded at $110 a barrel. Crude prices have since halved.

Like neighboring Singapore, the Pengarang peninsula sits between the Malacca Strait and the South China Sea, through which almost all the Middle East oil and gas bound for northern Asia’s industrial powerhouses of China, Japan and South Korea is shipped.

If fully developed, PIPC would become one of Asia’s biggest hubs for oil storage, fuel refining and petrochemical production, as well as imports and exports of liquefied natural gas (LNG).

Sushant Gupta, research director of refining and chemicals at energy research and consulting firm Wood Mackenzie, predicted Asian markets will be short of gasoline by 2020, meaning RAPID could hit the market at the right time to benefit from improving refining margins.

“So it will be prudent for the sponsors to get the refinery ready on time to capture the expected upswing in margins,” Gupta said.

CANADIAN SACRIFICE?

The RAPID setback means Petronas now faces questions over two of its biggest projects.

It is in the middle of making a final investment decision on a $27 billion liquefied natural gas project in Canada that has faced several delays due to environmental concerns.

The state-run company is also wrestling with lower profit and cash flow. In early 2016, Petronas said it would cut spending by up to 50 billion ringgit ($11.27 billion) over the next four years.

With the questions hanging over RAPID, Petronas may be forced to re-think the Canada project.

“RAPID will still come online, it’s just there is a greater financial burden on Petronas now,” said Peter Lee, an oil and gas analyst at BMI Research. “If anything were to give way or be delayed further, I would think it is the Canada project first.”

For graphic on Pengerang oil and gas development click: tmsnrt.rs/2kAw5RZ

(Additional reporting by Mark Tay and Henning Gloystein in SINGAPORE, Reem Shamseddine in KUWAIT; Editing by Alex Richardson)

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Dalam pada itu, terdapat khabar angin yang amat popular sedang aktif digembar-gemburkan dikalangan penggiat politik Pembangkang dengan dusta memburukkan Kerajaan Pusat terbaru.

Mereka begitu berusaha untuk mengambarkan bahawa Perdana Menteri Dato’ Sri Mohd. Najib Tun Razak sebenarnya amat tidak berpuas hati dengan Presiden dan Ketua Pegawai Eksekutif Kumpulan Petronas Datuk Wan Zulkiflee Wan Ariffin, berdasarkan maklumat yang dimanipulasikan dan ditambah dengan pembohongan.

Ini disandarkan kepada sidang media Datuk Wan Zulkiflee pada 22 Februari 2017.

Laporan The Star:

Wednesday, 22 February 2017

Petronas clears the air on partnerships

BY RISEN JAYASEELAN

KUALA LUMPUR: Petroliam Nasional Bhd’s (Petronas) discussions with potential equity partners for its projects are driven by its interest in bringing in new technologies, as well as diversifying risks in exploration activity.

It is not with the view of getting funding to help finance its projects.

President and chief executive Datuk Wan Zulkiflee Wan Ariffin said that when the national oil company embarks on a project, the entire funding requirement would be factored in.

“We never take on a project with the view that we have to depend on investors for funding to complete the project,” he told senior editors at a briefing here yesterday.

“We are always in discussions with potential partners to maximise the value of our projects and better manage the cash position of the organisation. But we are not dependent on anyone for funding to complete the project. We only pursue partnerships on terms acceptable to us,” he said.

Recently, wire news reports suggested that Petronas was looking to divest a large minority stake in a key Sarawak offshore gas field, and that the sale was partly driven by a need to raise cash at a time of low oil and gas prices.

Earlier reports stated that Saudi Aramco had pulled out of a plan to get involved in Petronas’ Refinery and Petrochemical Integrated Development (Rapid) project in Pengerang, Johor.

The reports suggested that the pressure was on Petronas to find a new partner or struggle to complete the project.

Wan Zulkiflee expressed surprise at the report of Saudi Aramco pulling out of Rapid when it had not gone into any agreement with the entity from Saudi Arabia.

“How can there be a situation of a party pulling out of something when the party was not part of it in the first place?” he said referring to reports of Saudi Aramco supposedly pulling out of Rapid.

“From day one, we have stated that we are able to fully fund Rapid. We are and will not be dependent on anyone for this project. We are close to 60% complete, costs are within projections and the refinery will be ready by 2019 followed by the petrochemical portion by 2020.”

On the potential sale of equity in the Sarawakian oil field, Wan Zulkiflee said that one of the criteria in looking for a partner was in finding one that is able to bring new technologies that make the extraction process more efficient, considering that the gas field contains high levels of carbon dioxide.

“There is also exploration work there, so it is in the normal course of business to find a production sharing partner to share the risks and rewards.”

Wan Zulkiflee also said that Petronas’ financials were intact, despite suffering from lower earnings due to the oil price collapse. Numerous cost-saving measures have also borne fruit.

“Just look at our balance sheet. We have more than RM130bil in cash. We have one of the lowest gearings among international oil companies at 17% and our ratings have not been downgraded in this entire period.”

On Petronas’ staff-rationalisation exercise, Wan Zulkiflee said that it had laid off 2,300 employees last year, which brought about an annual manpower cost savings of RM200mil.

“But the main benefit is that the exercise got rid of duplication (of roles) in the organisation and this, in turn, raises accountability. This is a much bigger win from this exercise than the cost savings,” he said.

Wan Zulkiflee also said that the oil major was using a price assumption of US$45 per barrel for Brent crude oil for its 2017 planning, and that it was maintaining its capital expenditure budget at RM60bil for the year.

The Government in Budget 2017 had also assumed oil to be at US$45 per barrel.

Despite the turbulent industry, 2016 marked many firsts for Petronas, said Wan Zulkiflee.

This included Petronas commissioning the world’s first floating liquefied natural gas (FLNG) liquefaction, storage and offloading vessel – Petronas FLNG Satu – which is now operating offshore in Sarawak. It also started commercial operations at the ninth liquefaction train at the Petronas LNG complex in Bintulu, Sarawak.

Last year, Petronas also commissioned its Sabah Ammonia Urea (Samur) project with first production expected soon. In 2016, the oil giant was also awarded deepwater exploration blocks in the Gulf of Mexico’s Salina Basin. It entered into a memorandum of understanding with National Iranian Oil Company to study two oil fields there and production of oil from Iraq crossed 100 million barrels.
Read more at http://www.thestar.com.my/business/business-news/2017/02/22/petronas-clears-the-air-on-partnerships/#KVm5jKYWMfJ7MQFB.99

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Walaupun Datuk Wan Zulkiflee menjelaskan bahawa beliau sendiri terkejut mengenai laporan Reuters itu kerana pada peringkat itu, kedua kedua pihak masih lagi dalam proses perundingan dan belum mencapai apa-apa persetujuan yang konkrit. Hatta, soal menarik diri tidak timbul pada peringkat sebegini.

Dalam sidang media yang sama, beliau juga menjelaskan apabila Petronas menimbangkan untuk memulakan sesuatu projek, perkiraan telah dibuat agar Petronas sendiri mampu untuk menjana program tersebut.

Namun, pertimbangan untuk rakankongsi juga sentiasa terbuka bagi menerima modal tambahan dan menjana kepentingan strategik seperti meningkatkan peluang jaringan melalui kerjasama dan rakankongsi, terutama kedalam kepasaran terbitan baru.

Ini merupakan salah satu track yang di layari Petronas dengan jayanya, sebagai sebuah operator huluan industri hidrokarbon ini apabila terbukti mampu beroperasi di 20 bush negara dan membawa pulangan yang lumayan.

Kejayaan kunjungan Raja Salman dan perjanjian Petronas-Aramco Saudi merupakan bukti bahawa keyakinan global keatas Malaysia dan pengurusan ekonomi oleh Kerajaan masih mantap.

Ianya amat bertentangan dengan apa yang digembar-gemburkan Pembangkang dan dicanang merata dunia dengan bantuan sesetengah media asing bahawa pengurusan ekonomi negara amat lemas, bebanan hutang diluar kawalan dan negara akan muflis.

Perdana Menteri Najib menyifatkan perbuatan fitnah ini sebagai cubaan untuk mensabotaj ekonomi negara.

Laporan Utusan Online:

Henti sabotaj ekonomi – PM

C.Sheila Rani
20 Mac 2017 11:24 AM

KUALA LUMPUR 20 Mac – Perbuatan sabotaj ekonomi harus dihentikan oleh mana-mana pihak demi kepentingan rakyat dan masa depan Malaysia.

Perdana Menteri, Datuk Seri Najib Tun Razak menegaskan, tindakan sedemikian tidak wajar diteruskan walaupun golongan berkenaan mempunyai perbezaan pendapat politik.

“Ada sedikit sebanyak unsur sentimen yang boleh dipengaruhi melalui cita-cita yang bertujuan untuk memburukkan keadaan ekonomi negara dengan meluahkan fakta-fakta yang tidak berasas dan tidak tepat.

“Ini tidak wajar diteruskan kerana kepentingan negara tidak seharusnya dijadikan pertaruhan dalam soal politik kepartian,” katanya ketika menjawab soalan Datuk Seri Dr. Irmohizam Ibrahim (BN-Kuala Selangor) dalam sesi soal jawab dalam persidangan Dewan Rakyat, hari ini. – UTUSAN ONLINE

Artikel Penuh: http://www.utusan.com.my/berita/nasional/henti-sabotaj-ekonomi-pm-1.459389#ixzz4c6o4Rkhw
© Utusan Melayu (M) Bhd

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Penyokong Pembangkang memanipulasi saranan Perdana Menteri Najib ini dan menyandarkan dengan beberapa laporan media sebelumnya, untuk terus memberikan gambaran yang salah dan berniat jahat.

Ianya sebahagian dari strategi Pembangkang untuk menghakis keyakinan rakyat walaupun realitinya berbeza, seperti episod pelaburan baru RM 6 billion di Penggerang, Johor itu berbanding dengan pembohonan bahawa keyakinan keatas ekonomi dan cara pengurusan.

Blogger Ganesh Sahathevan telah memanipulasi dua laporan media ini untuk memberikan gambaran sebenarnya Perdana Menteri Najib tidak senang dengan Datuk Wan Zulkiflee.

Beliau juga menuduh bahawa Presiden Petronas itu antara yang dinamakan sebagai “Individu yang mensabotaj ekonomi negara”.

Beliau merupakan mantan wartawan The Sun, telah melalui penulisan telah menyerang Presiden dan Ketua Pegawai Eksekutif Kumpulan Datuk Wan Zulkiflee Wan Ariffin:

While PM Najib provided no evidence of who exactly “almost sabotaged” the Aramco-Petronas JV,we do know that Petronas CEO and President Datuk Wan Zulkiflee Wan Ariffin himself expressed concerns about the JV just two days before signing, and he did so publicly ,via a press conference that he himself called.

The Star reported these matters:
Wan Zulkiflee expressed surprise at the report of Saudi Aramco pulling out of Rapid when it had not gone into any agreement with the entity from Saudi Arabia.
“How can there be a situation of a party pulling out o

f something when the party was not part of it in the first place?” he said referring to reports of Saudi Aramco supposedly pulling out of Rapid.
“From day one, we have stated that we are able to fully fund Rapid. We are and will not be dependent on anyone for this project. We are close to 60% complete, costs are within projections and the refinery will be ready by 2019 followed by the petrochemical portion by 2020.”

The above was preceded by an earlier report in The Star,dated 25 February 2017 in which Petronas seemed to be warning off PM Najib and his government.Headlined “Let Petronas Do Its Job”, the story included the following statements:

There has been a fair bit of speculation surrounding Aramco inking a deal with Petronas in relation to the latter’s Refinery and Petrochemical Integrated Development or Rapid project in Pengerang, Johor. The latest is that both parties will sign an agreement on Monday during King Salman’s visit to Malaysia.
Petronas has not said anything about any potential deal with Aramco, except that it is always in talks with potential partners, but that any deal inked would have to be on Petronas’ terms. In other words, beneficial to Petronas and not lopsided, as it should be.
Petronas’ president and CEO Datuk Wan Zulkiflee Wan Ariffin recently told editors in Kuala Lumpur that Petronas never takes on projects with the view that it has to depend on investors for funding to complete the project.
That said, partnering Aramco should have its benefits, considering it is not only the company with the vastest oil reserves, but also the most valuable company in the world today. The deal just has to be struck on equally beneficial terms.
…..the O&G resources of the country belong to all Malaysians, and they have to be handled with care.

It does appear then that it was the Petronas CEO himself who was trying to discourage Aramco, and he was not afraid of doing so publicly.

Then there is the matter of the EPF. Najib is reported to have said:

“Some unpatriotic people had spread claims that the Employees Provident Fund (EPF) was almost bankrupt and that the government was unable to pay the salaries of its civil servants.
“The Saudi Arabian government had received this wrong information about our country and thus, were quite doubtful about investing in Malaysia.
“We had to meet them and correct the facts that Malaysia is among the best countries in the world (to invest in). When they were convinced, they finally agreed to invest with us” .
However, Aramco sells its crude to Petronas, and it would,as any oil company would, be interested only in the viability of its client. If otherwise, Shell, ExxonMobil and others would not be investing in say Nigeria. Put in another way, oil companies have long ago learnt to limit their exposure to the oil assets that they deal with, managing to ring-fence these from the problems of the countries they deal with.
Therefore the matter of EPF would be of interest only if the EPF is expected to bail-out the RAPID project, for a bail-out is what it would be.If not, the EPF would already be an investor in the project. A bail out should not be unexpected, given that the JV agreement with Aramco seems not to involve any injection of cash.
END
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Blogger ini juga dengan tanpa bukti melibatkan KWSP (EPF) dalam artikel ini dan mengambarkan bahawa wang KWSP akan digunakan untuk ‘bail out‘ RAPID sekiranya perjanjian Petronas-Aramco itu gagal. Ini ditambah sekiranya tidak, KWSP sememangnya akan melabur didalam projek gergasi Petronas itu.

Mengheret KWSP dengan manipulasi maklumat yang tidak tepat adalah salah satu cara untuk menghasut agar terdapat dikalangan pencarum KWSP salah tafsir tulisan ini dan terpedaya dengan dakyah Pembangkang bahawa ekonomi negara sebenarnya teruk dan tidak diurus dengan baik.

Maka ianya akan dijadikan sebagai titik untuk mula mebangkitkan kesangsian dan kemarahan dikalangan pencarum KWSP, yang rata-ratanya rakyat biasa.

Tindakan ini jelas sebagaimana yang ditekankan oleh Perdana Menteri Najib akan aktiviti mensabotaj ekonomi ini.

Amat malang sekiranya strategi untuk menghasut dan menjana kebencikan kepada kepimpinan dan Kerajaan Barisan Nasional memberi kesan kepada negara, terutama menghalang peluang perdagangan apa skala sekalipun dan pertumbuhan ekonomi, demi merealisasikan politik sempit sesetengah pihak.

Published in: on March 23, 2017 at 09:00  Comments (8)  

The Cost of Manja

The civil service bill

The civil service bill

In moving Malaysia forward not only into the newly developed nation status but a high middle income nation, the rakyat must do their bit together with enthusiasm and not leave everything to the Government to realise, execute and bear the cost.

The Malaysian Government under Prime Minister Dato’ Sri Mohd. Najib Tun Razak laid out a target to be a high economy nation with the people able to obtain high income, which should be realised with one of many strategies is the rationalisation of subsidies.

The fundamental philosophy of a ‘Government’ is ‘To provide the things and services that people cannot provide for themselves’.

Let us Malaysians take a close look at that. Do we provide and do things ourselves and minimise the burden to the Government?

As  a general rule, Malaysians don’t. They prefer other people to do these things for them. Conveniently, the Government. Anything and everything, even the petty of things in their daily life, they blame and put the responsibility on Government.

Example like the power consumerism. If there are errant traders who do profiteering, can the consumers do anything about it if they feel they have been bullied or treated unjustly?

Oh yes they can! They can boycott such traders. Even the cartel, if the community which felt unjust.

But do they do that? No. Usually they do nothing but complain. They conveniently  put the burden on Government, to act for them.

“Government should……” is one the most widely used phrase amongst Malaysians all walk of life.

Many of rulings and directives have to be ‘enforced’, which means enforcement officers have to assigned. A quick example is ‘meter maid’ by municipalities and local authorities, to enforce parking rules are observed.

This cost could otherwise be minimised if the people in their earnestness abide by rules without much supervision.

Taken that some essential services involving security such as like military, police, prisons, immigration, coast guard etc. have to be provided and manned by civil servants. However, sort which could be automated with the advancement of technology such as administrative is actually growing.

The work demand partly created by service required or expected to be delivered by the Malaysian public actually saw the civil service growth, both horizontally and vertically. Some ministries even provide three Deputy Secretary General positions, with corresponding Divisional Secretaries and Directors.

This is why the civil service is so enormous. 1.6mil people are employed on behalf of the Government to serve cogs and gears of the nation. Inadvertently, this is why to pay for the civil service cost the Malaysian taxpayers RM93 bil or 35.8% of annual Federal Government budget.

That alone is 78.8% chunk off the revenue collected by Inland Revenue Board of RM118 bil.

This is up and above bills that the Federal Government are already paying (at almost 100%) for the comfort of the rakyat, which is health and education.

The left over from direct taxes collected by IRB in the form of income tax and other taxes is RM25 bil, which is supposed to pay for other expenditures.

High operating expenditures such as paying emoluments and pensions for the civil service also means that lesser could be invested in socio-economic development capital expenditures.

The present ratio of 1 civil servant to less than 20 Malaysians is a little too high. This is even higher ratio than pre-corporatisation and privatisation of services like electricity, water, telecommunications, postal and other services.

Realistically, high civil service bill in annual budget is not a good indicator that the nation had moved forward as a newly developed nation. The economy may qualify to be in the cohort.

However, the attitude of the people is pointing towards that they are not quite independently developed.

Published in: on February 1, 2017 at 22:00  Comments (14)  

Expanding the Bumiputra Economic Agenda

The market flavour of the week is Some Darby Bhd. breaking up into three different core group and be listed separately as Sime Darby Bhd., Some Darby Property Bhd. and Sime Darby Plantations Bhd.

NST online:

Sime Darby may raise RM27 billion from unit listings

 

BY AMIR HISYAM RASID – 28 JANUARY 2017 @ 4:15 PM

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KUALA LUMPUR: Sime Darby Bhd could raise more than RM27 billion from the listings of its plantation and property companies while maintaining controlling stakes in them, analysts estimate.

Analysts gave thumbs-up to the spin-off plans but were split over upgrading, maintaining or even downgrading their recommendations on Sime Darby. Kenanga Research said if it kept a 51 per cent stake in each entity, the conglomerate could raise some RM27.2 billion from the listings.

The plantation arm could fetch RM19.4 billion and the property firm is expected to raise RM7.8 billion, which represents cash per share of RM4.10. Sime Darby announced on Thursday that its plantation and property units would be listed on Bursa Malaysia as Sime Darby Plantation Bhd and Sime Darby Property Bhd.

“We are positive with this move which should unlock value in both spin-offs, while substantially improving Sime Darby’s balance sheet position and potentially providing a bonus to shareholders in the form of dividends or shares in the new companies,” said Kenanga Research .

“Assuming Sime Darby retains 50 per cent of the RM27.2 billion funds raised and pays out the rest as dividends, this would represent a bumper dividend of RM2 per share or 22 per cent of the current share price.

“With the remaining funds, we would expect Sime Darby to enter into a net cash position from the current net gearing position of 0.4 times,” said the firm.

Kenanga Research upgraded its call on Sime Darby to “outperform” from “neutral” with a higher target price of RM9.88. MIDF Research downgraded Sime Darby to “neutral” with an unchanged target price of RM9.05 as it believed most of the optimism on the corporate exercise had been priced in.

The firm said its shareholders are likely to enjoy long-term benefits from the removal of “conglomerate discount” attached by the market.

“This is especially true for the plantation division as pure planters tend to command higher price earnings valuation against conglomerates with many businesses,” it said. Public Investment Bank Bhd affirmed its “outperform” call and RM9.30 target price.

It said Sime Darby Plantation, which was set to become Malaysia’s biggest listed plantation company, also had the largest planted landbank in the world. This is based on its vast planted landbank of 603,254ha across Malaysia, Indonesia, Papua New Guinea and Liberia.

“Taking into consideration its landbank size, regional footprint, fresh fruit bunch (FFB) production growth, FFB yield, age profile and current strong crude palm oil prices, we strongly believe the plantation arm should be able to attract healthy valuations for its listing.

“Based on our preliminary studies, the market capitalisation would likely be in the range of RM48 billion-RM55 billion or an estimated price earnings ratio of 25-30 times,” it said. PublicInvest said Sime Darby Property is set to be one of the largest players in the country based on its annual property sales of more than RM2 billion.

“Based on our valuations, the property arm could be listed at an estimated market capitalisation of not less than RM10 billion. However, the listing might be in the later part of the year as property sentiment remains lacklustre,” it added. Sime Darby kept its improvement on Bursa, edging up 4.65 per cent to RM9.23 from Thursday’s close of RM8.82.

The stock was Bursa’s top gainer yesterday and best performer year-to-date with a 13.95 per cent gain.

Read More : http://www.nst.com.my/news/2017/01/207936/sime-darby-may-raise-rm27-billion-unit-listings

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The decoupling of groups from the existing Sime Darby Group, which arisen from the merger of Some Darby, Guthrie and Golden Hope Plantations ten years ago is timely and a brilliant step moving forward.

The conglomerate now is listed under the Forbes Global 2000 list as number 813. If measured under market cap, then it is at number 867 of the same list.

It would provide better growth, arisen from focused separate teams and strategies. Example is property is a segment which Sime Darby could really capitalise and existing resources be optimised for better return on investment and value creation.

This is a strategy where Sime Darby Property could horse-back on the Government strategy of wealth creation and gallop on the bullish-ness of making Malaysia a high income nation.

The appetite for property, especially for commercial and high end and luxury segment is quite promising. Considering the Forest City development in Iskandar Malaysia, is a good example of the opportunities available and waiting to be capitalised.

The development of the High Speed Rail from Kuala Lumpur to Singapore is expected to pass through many of Sime Darby assets and investments, which could be developed for new satellite townships along the route.

Unlocking, realising and optimising value creation for PNB is a strategy laid by the new management team led by Tan Sri Abdul Wahid Omar as Chairman and Dato’ Abdul Rahman Ahmad as Group CEO two months ago. Unit trust schemes under PNB are strategic and majority shareholder of Sime Darby Bhd.

The Star story:

Friday, 25 November 2016

Malaysia’s largest fund-manager unveils strategic plan

BY HANIM ADNAN

KUALA LUMPUR: Permodalan Nasional Bhd (PNB), the country’s largest fund-management company which has a new team at the helm, has unveiled a six-year strategic plan to deliver sustainable, consistent and competitive returns to its unitholders.

PNB has set a target to increase its total assets under management to about RM350bil by 2022 from about RM259.49bil currently.

In a rare press briefing on its performance, PNB disclosed that was expecting a gross income of RM18.64bil and a net income of RM15.18bil with a return on assets of about 6.1%.

According to group chairman Tan Sri Abdul Wahid Omar, PNB has been able to deliver consistent returns to its unitholders, with over RM136bil having been paid out since its inception 38 years ago.

PNB is currently the market leader in the local unit trust industry, managing RM220bil in unit trust assets with 12.8 million accounts, representing over a 60% market share in terms of total fund value.

PNB also expects the dividend payout this year to be maintained, said Wahid as he unveiled PNB’s Strategic Plan 2017-2022 yesterday.

Meanwhile, PNB president and group CEO Datuk Abdul Rahman Ahmad said PNB recognised the challenges ahead in the period of global uncertainty, given the flat global economic growth and low interest-rate environment.

“This is exacerbated further by the negative trend of the FBM KLCI for the past three consecutive years attributed by the weak shareholders’ return of large-cap Malaysian corporates over the period,” he added.

PNB is a major investor in Bursa Malaysia with investments of nearly RM170bil or 10% of the market capitalisation of the bourse.

Its strategic holdings are in Malayan Banking Bhd (Maybank), Sime Darby Bhd, UMW Holdings Bhd, S P Setia Bhd, Chemical Company of Malaysia Bhd and MNRB Holdings Bhd.

It also has sizeable stakes of more than 10% in large caps such as Axiata Group Bhd, Tenaga Nasional Bhd, CIMB Group Holdings Bhd and Telekom Malaysia Bhd.

To counter the challenges ahead, Abdul Rahman said the PNB Strategic Plan 2017-2022 would chart the way forward for the group to deliver sustainable, consistent and market-leading returns.

However, he said that corporate Malaysia has to perform.

“Companies should not undertake mergers and acquisitions without enhancing shareholder value. Every single action that they take should create shareholder value,” he added.

To attain PNB’s vision to be a distinctive world-class investment house, PNB has formulated the Strive 15 programme which comprises three pillars – enhancing sustainable returns, effective investment management and driving operational excellence.

Abdul Rahman said: “We have developed a clear strategic plan to address current and future challenges, thus ensuring PNB can sustain its performance for the next six years and beyond.”

He pointed out that PNB would continue to invest in high-performing Malaysian corporates.

“Our cash is sizeable and we will continue to invest whenever the opportunity arises, including in fixed income when the time is right.”

At the moment, out of PNB’s investment portfolio, the cash position is about 20% and fixed income is 4%.

A 20% cash holding is about RM50bil in terms of absolute amount.

Towards this end, Abdul Rahman said that it would be redeploying some assets to reduce its cash position when the opportunity arises.

“We think that while it is important to hold cash, RM50bil is a bit too much,” he said.

Wahid added that there were a lot of things that could be done and achieved with PNB’s existing strategic investments.

“We will work closely with the management and board of our strategic investment companies to see how we can further maximise returns and create more value for these companies,” said Wahid.

Recently, there was a news report of a break-up of Sime Darby, the conglomerate in which PNB has close to a 55% controlling stake.

Spculation has been rife that both Wahid and Abdul Rahman were keen on seeing the board of Sime Darby come up with a plan to unlock value by having more individually listed entities as opposed to a single public-listed parent holding an array of different businesses.

On PNB’s cash position, Abdul Rahman said that the current cash position of 20% of total assets was definitely not optimal and that PNB would be looking to deploy those monies to work soon.

“We will source for new strategic investments and core portfolio companies. Private equity and fixed income will be another asset class that we are looking to increase exposure to,” said Wahid.

“For now, given the weak ringgit, we will not move into acquiring global assets.”

Abdul Rahman, meanwhile, is bullish on the positive growth of PNB’s funds, given the lows in the earnings cycle, historically low foreign ownership and the fact that “not often the KLCI underperforms for three consecutive years”.
Read more at http://www.thestar.com.my/business/business-news/2016/11/25/pnb-unveils-strategic-plan/#EBFD7oRdWT4QIXlC.99

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Hence, it is quite achievable that PNB increase its value by 34.6%, equivalent RM90 bil, from the current asset at RM260 bil to RM350 bil in six years.

The surplus of cash from the listing of two other Sime Darby groups is extra resource, to be realised in the optimisation of the existing market capitalisation of Sime Darby. Currently, it is hovering in the neighbourhood of RM62.8 bil.

Three years earlier, Some Darby set the target to bring the market cap to RM100 bil.

Bernama story:

Monday, 9 June 2014 | MYT 6:00 PM

Sime Darby aims to double market cap to RM100bil by 2016

 

KUALA LUMPUR: Malaysia-based multinational conglomerate, Sime Darby Bhd, plans to almost double its market capitalisation to RM100bil on Bursa Malaysia by 2016 from RM57.73bil recorded to date.

In line with the five-year strategy blueprint for financial year 2012 until 2016, Sime Darby would continue to expand and strengthen its position in diversified business activities such as plantation, industrial, motor, property and energy and utilities.
Executive Vice-President Group Strategy and Business Development Alan Hamzah Sendut said from the financial perspective, the company has recorded a lower financial result due to volatility in global commodity prices.

Sime Darby’s profit before interest and tax for the nine-month period ended Mar 31, 2014 slipped 16% to RM2.922bil from RM3.478bil recorded in the same period last year.

“However, our production (palm oil) is increasing, and volatility in the crude palm oil prices is beyond our control,” he told reporters on the sidelines of Invest Malaysia 2014.

Alan also said the company has outlined strategic thrusts for each of the division under the group.

“For the plantation division, we will be looking at land bank expansion. We are looking for opportunities to acquire land outside Malaysia,” he added.

Sime Darby Bhd registered a pre-tax profit of RM1bil in its third quarter ended March 31, 2014 compared with RM934.74mil registered in the same period a year earlier.

The group, however, posted a lower revenue of RM10.295bil for the quarter compared with RM10.84bil in the same period last year, while earnings per share was higher at 14.09 sen against 11.5 sen previously.

The conglomerate attributed the quarter’s higher profit to improved results from the plantation division and a lower effective tax rate. – Bernama
Read more at http://www.thestar.com.my/business/business-news/2014/06/09/sime-darby-seeks-to-almost-double-market-cap-to-rm100-bln-by-2016/#IdHplLtjU7BjC7vR.99

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The global financial crisis hitting at the end of 2014 and all throughout 2015 set the target back. In all, market cap of company listed in Bursa Malaysia saw an unprecedented reduction in value, despite the fundamentals such as operations and NTA are still encouraging.

Needless, this corporate move is extending the expansion of the Bumiputra Economic Agenda as part of the nation’s high income economy, which Prime Minister Dato’ Sri Mohd. Najib Tun Razak first assured the Malays in 2013.

It is a good start for the year of the Fire Cock.

Published in: on January 31, 2017 at 03:01  Comments (1)  

Recklessly leaky

The flavour of the week is about financial crisis and scandals during Faust of ‘Flip-Flop’ Tun Dr Mahathir’s administration as Fourth Prime Minister, surfacing in various form and template and opening up more ambiguity to the Malaysia public, particularly the Millennials.

NST online story:

‘Actual losses were more than the ones reported by central bank’

 

27 JANUARY 2017 @ 10:56 AM

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The following are excerpts from a question-and-answer session with former Bank Negara Malaysia (BNM) assistant governor Datuk Abdul Murad Khalid. Murad, who resigned from BNM on Feb 1, 1999, was the manager of the central bank’s banking department (between April 1992 and March 1994) and was its bank regulation department manager (April 1988-March 1992).

During his tenure with BNM, Murad was involved in the investigation into Sime Bank. He took over BNM’s foreign exchange operations in late 1992 after the central bank incurred paper losses of more than RM9 billion, in that financial year.

He was also made the central bank’s representative in the Oversight Committee of Pengurusan Danaharta Nasional Bhd and director of Danamodal Nasional Bhd.

Question: What were the total losses incurred by BNM in foreign exchange (forex) during that period?

Answer: The total losses were US$10 billion and not ringgit. Our losses were in foreign currencies. It means that our reserves in US dollar, pound and yen all went down the drain. We lost them just like that. This (amount) was accumulated losses over several years. Over the years, we discovered and closed the book in 1994, and recognised all the losses. The total losses depends (on the exchange rate). It would become RM44 billion if you convert it based on the present exchange rate. The exchange rate was between RM2.3 and RM2.5 for US$1 at that time.

Q: What were the causes?

A: There was no control. No internal control and nobody knew what was happening at that time. It was real money. As if we lost the money that we had in our pocket. For example, if you buy Tenaga Nasional Bhd shares at RM10 (per unit), a week later, you will have to pay. Tomorrow, (if) it falls to RM7, you will have to pay the difference if you sell it. They kept on rolling over the contract.

Q: When was the bulk of the losses recorded?

A: I think from 1991 to 1993. I’m not sure (if Datuk Seri) Anwar (Ibrahim) was involved. I cannot say that (the then prime minister) knew about it as I was not involved in the top management (meetings) between the minister and governor. I didn’t know what happened.

Q: Who was responsible? Would you name them?

A: No, I would not name them. The most important thing is there was no investigation at all. You lost US$10 billion, but there was no investigation. The police or the Anti-Corruption Agency (now the Malaysian Anti-Corruption Commission) did not come. No one came to investigate.

Q: In your knowledge, did anyone lodge a report with the ACA?

A: It was highlighted in the newspapers. The stories were big and (nothing was done), even after the governors have changed several times.

Q: Did the Public Accounts Committee (PAC) investigate the case?

A: PAC only called (us) and asked us as a group from BNM. That’s all.

Q: It was reported as losses in the BNM report… didn’t the then prime minister know about it?

A: I’m sure the governor briefed them. Because the transactions were so big, you cannot unwind them in one day as it would take months to unwind. It involved mainly major currencies, such as the US dollar and Deutsche mark, as they didn’t have euro at that time, yen and pound.

Q: At the bank level, was any action taken against the dealers?

A: No. It was not their (the dealers’) decision. They only executed, but were not (involved) in the decision-making. I don’t know how it could happen as it was not the role of BNM to speculate.

Q: Was it a pure business decision or were there other things that motivated them?

A: I cannot say for sure. It’s possible (that they did it to make a lot of money). For example, in 10 transactions, if you can make profit from one, then that is possible (to make money).

Q: Is it only on paper or real losses?

A: It was real losses. Real money was involved. Our money from our reserves. As I told you earlier, if you have a bank account and you have lost some profits, you have to issue a cheque to pay. It’s the same. Very simple analogy there. It’s not the role of BNM to speculate. It should only intervene to smoothen the movement of the ringgit.

Q: Normally, the government will charge those involved and retrieve the funds… in this case?

A: No. And it’s up to the government as the case occurred more than 20 years ago. I will tell you what I know, but the most important thing is to ensure that the records are still there.

Q: Is it the biggest loss in our history?

A: Not only in Malaysian history, but in the world for forex losses. Even the Nick Leeson case (whose fraudulent, unauthorised speculative trading caused the collapse of Barings Bank) is small. US$10 billion is not a small amount. It was quoted as RM9 billion in the Bank Negara 1992 Annual Report. But, the total accumulated amount is much more than that.

Q: Do you have proof to support your claim that the actual loss was US$10 billion?

A: You can go to BNM and look at its accounts in that few years. The RM9 billion, or US$4 billion, was only recognised by BNM for 1992, while the US$10 billion was accumulated from several years. The actual losses were more than the ones reported in the BNM account.

Q: Does it surprise you that the opposition did not raise the issue at that time?

A: They raised it, but there was nothing much they could do. The power is in the government’s hand.

Q: Should the authorities reopen the case?

A: They should and I’m willing to cooperate. The records are already more than 20 years old and might have been eaten by termites. The dealings were done here (in Malaysia). There are two things, one is speculation and another is reserve management . Reserve management is where you move your assets or foreign currencies, such as the US dollar to Deutsche mark. It’s a real thing and (involves) real assets if you invest in Treasury bills or government bonds. That’s the role of BNM, but what it did (at that time) was speculation. This one (forex speculation), they could be rolled over or take position. They used to call it “contra” dealing in the stock market before, but it’s actually forward trading or betting.

Q: How did it cover the losses?

A: In the BNM account, it already had RM10 billion. It (might have) used that reserves first.

Q: Is BNM the only central bank involved in “betting” in the world? A: Yes. It’s a big loss, but there is no investigation. Bigger than other cases and why there was a cover-up? The truth must prevail.

Read More : http://www.nst.com.my/news/2017/01/207665/actual-losses-were-more-ones-reported-central-bank

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For an Ex-Assistant Governor of Bank Negara Malaysia (BNM) Abdul Murad to admit the accumulated foreign exchange losses was in excess of USD10 bil in very damning. It created minus capitalisation to BNM.

USD10 bil losses to foreign exchange simply wiped 55% of BNM foreign reserve, which is RM18 bil.

The losses saw the untimely departure of Governor Tan Sri Jaafar Hussein. However, no one in the Malaysian Government took to fall for this economically hazardous gamble.

Asst Governor Murad’s revelation is adding the public curiosity, to the Pandora’s Box which was opened earlier in the week upon the Asian Correspondent story about CIA files on the BMF scandal being declassified.

*Updated 2100hrs

Prime Minister Dato’ Sri Mohd. Najib Tun Razak reacted that BNM views on Assistant Governor Murad’s revelation would be sought by Cabinet before any further action be taken.

Bernama story:

Cabinet seeks BNM’s views on alleged foreign exchange loss: Najib

Posted on 27 January 2017 – 07:37pm

Umno president Datuk Seri Najib Abdul Razak during a media conference after chairing the party’s Supreme Council meeting at Menara Dato Onn, Putra World Trade Centre on Jan 27, 2017. — Bernama
KUALA LUMPUR: The Cabinet will seek the opinion of Bank Negara Malaysia (BNM) on the alleged foreign exchange losses of US$10 billion in the early 1990’s before taking any further action.

Prime Minister Datuk Seri Najib Abdul Razak said the government took a serious view on the matter.

“However, other members of the administration and I need to get the opinion and comments of BNM and other parties. Later, the Cabinet will make a decision on the matter,” he said.

Najib, who is also UMNO President, said this to reporters after chairing the UMNO Supreme Council meeting, here today.

Former BNM Assistant Governor Datuk Abdul Murad Khalid was reported to have said that the central bank suffered foreign exchange losses of US$10 billion in the early 1990’s.

BNM said in a statement replying to the allegation that the institution had achieved progress that was stronger, more transparent and responsible since the foreign exchange losses occurred almost 25 years ago. — Bernama

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Published in: on January 27, 2017 at 11:00  Comments (5)  

Dr M ‘Flip-Flopped’ & running with tail behind his hind legs on Najib’s initiative for the rakyat

Fourth Prime Minister Tun Dr Mahathir Mohamad ‘Flip-Flopped’ on his opposition against BR1M, an initiative introduced by Prime Minister Dato’ Sri Mohd. Najib Tun Razak as direct subsistence for the B40 five years ago, during the launch of Parti Pribumi Bersatu Malaysia tonight.

The Malay Mail Online:

Dr M says would abolish GST, make BR1M statutory

BY IDA LIM

Saturday January 14, 2017
11:05 PM GMT+8
SHAH ALAM, Jan 14 — The federal opposition will gradually repeal the controversial Goods and Services Tax (GST) if it is elected into power, Tun Dr Mahathir Mohamad said today.

Although previously calling the 1Malaysia People’s Aid (BR1M) “bribery”, the former prime minister and chairman of Parti Pribumi Malaysia also said a Pakatan Harapan government would convert the cash handouts into statutory aid.

“GST will be abolished gradually and replaced with a sales tax according to the people’s will,” he said in his speech at PPBM’s launch here, without elaborating further.

Even before he could finish his remark on the GST’s abolishment, the red-clad crowd erupted into loud cheers of “Hidup Tun!” (long live Tun) as soon as they heard the word “abolished”.

The cheers were more subdued, however, when he repeated his words and completed his remark.

Dr Mahathir also declared that PPBM along with other opposition parties would form a “clean” government—especially in terms of elections—with various reforms to be carried out.

He said this new government would ensure that no bribes would be given out in any form to voters to gain support during elections.

“If it is found that BR1M is important, then this money will be distributed by government servants. BR1M cannot be included in any party’s’ manifesto.

“If it is agreed by the people, BR1M will become a statutory aid that is determined by laws and ordinary budget. The prime minister cannot determine its distribution or the amount, or the way it is given,” he added.

– See more at: http://www.themalaymailonline.com/malaysia/article/dr-m-says-would-abolish-gst-make-br1m-statutory#sthash.6xlrxFzg.dpuf

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Bantuan Rakyat 1 Malaysia (BR1M) was first introduced in 2012 as subsistence direct to the target group, which is the B40, upon Federal Government’s rationalisation and reform on subsidies and economic transformation program. It was an idea mooted by Bank Negara, during the days of ‘laboratories’ created when Prime Minister Najib’s administration was preparing on new policies and economic and government transformation in 2010.

The program, now is categorised by different group of recepients.

Dr Mahathir attacked BR1M as a form of ‘bribe’ by Prime Minister Najib, to get the B40 supporting BN.

Inadvertently, Dr Mahathir acknowledged the transformation that has been introduced by Prime Minister Najib did brought positive effect for the rakyat. And now, he wants BR1M to be tweaked into statutory.

The fact is that he is running out of issues to rubbish Prime Minister Najib, considering many of the latter’s policies and strategic initiatives have brought positive result which the rakyat has been benefitting.

How his Opposition ‘Barisan Rakyat’ would try to mitigate the grave short fall in Federal Government coffer for operating budget by RM40 billion plus per annum by abolishing the consumption tax is not clear at this time. It is doubtful that it could be supplemented even if the Opposition whipped up IRB, Royal Customs and Local Authorities to generate RM40 billion plus that is collected annually under GST.

So far consumption tax in the form of GST is the fairest system of collecting revenue from the rakyat’s consumption of goods and services, without imposing higher personal income tax or any introduction of new taxes.

Globally, consumption tax has been proven to work in most economies, be it modern and developed or the struggling under-developed ones.

Published in: on January 14, 2017 at 23:59  Comments (9)  

The economy going bankrupt and failing state indicators

There are some really skewed personalities with sinister agenda going around trying to convince the gullibles and ill-informed in their strategy to oust the current Prime Minister Dato’ Sri Mohd. Najib Tun Razak, why bold lies like “The nation is going to be bankrupt” and ‘The economy is failing”. However, the reality is quite the opposite.

The Star story:

Thursday, 12 January 2017 | MYT 4:33 PM

Mercedes-Benz M’sia’s sales hit record in 2016

KUALA LUMPUR: Mercedes-Benz Malaysia (MBM) posted an all-time record sales of 11,779 units in 2016, up 9% from 10,845 units sold in the previous year.

MBM president and chief executive officer Dr Claus Weidner said Mercedes-Benz continued to be the number one premium car brand locally with a 2.4% market share and hoped to retain its pole position in 2017.

“2016 was an exceptional year in the history of MBM. We achieved a tremendous milestone as we contributed towards the global success of Mercedes-Benz, which set a new record with double-digit growth of 11.3% and over two million vehicles sold worldwide.

“We are working hard to sustain our success here in Malaysia,” he told a media briefing on the group’s 2016 performance in Kuala Lumpur on Thursday.

MBM’s record-breaking performance came as demand for Mercedes-Benz vehicles in the Asia-Pacific region achieved a new high, increasing by 19.3% compared to 2015 which totalled 734,109 vehicles delivered to customers.

Malaysia was listed as a contributor to this best in history growth along with other leading Asia Pacific countries, namely Japan (+3.5%), South Korea (+25%), Australia (+14.8%) and Taiwan (+17.4%).

Amid the challenging economy, Weidner said MBM’s strategy of prioritising customer service had paid off and kept its sales performance at a steady pace throughout 2016.

He said MBM’s production plant in Pekan, Pahang, produced 7,882 vehicles last year, recording a growth of 2.2% from the previous year.

He said the group also offered a comprehensive financing at 1.88% and has a loan portfolio of RM1.8bil currently, with four out of every 10 vehicles sold being financed and insured by its sister company, Mercedes-Benz Services Malaysia.

“MBM will continue to invest in dealer network, upgrade facilities and up skill its manpower in Malaysia,” he added.

Meanwhile, MBM vice president (sales and marketing) Mark Raine said the company hoped to register another stellar performance in 2017, banking on new model launches expected this year together with the 17 models launched last year.

On the impact of weak ringgit on car sales and pricing, he said MBM would continue to monitor all influencing factors, but as of now, it had no plans to increase the prices of its vehicles. – Bernama

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The record sales of the German automobile is a very good indicator the upper middle class have spare cash to splurge. That is up and above that their faith of the economy is strong and it is going concern, for their firms to continue operating with foreseeable profits and healthy cashflow to undertake such luxurious acquisitions.

Other services catered for the upper middle class such as fine and gourmet dining, 5star and above accommodations have started to strongly present their demands. This include private and leased jet and charter services.

Otherwise, they would have taken measures like conserving the utility of resources and safeguarding assets, especially cash and securing financial commitments.

How about the bulk lower middle class. This is the group which is said to be making the most noise, affected by the so called “Intolerable increasing cost of living” and coupled by the urban-lower middle middle income trap.

The liquidity amongst them is very supportive of the retail and local economy, which is reflective in the strengthening nation’s favourite family restaurant, which is seeking listing in Bursa Malaysia again.

The Star story:

Thursday, 5 January 2017 | MYT 5:01 PM

QSR Brands to open 30 more KFC outlets this year

KUALA LUMPUR: QSR Brands (M) Holdings Sdn Bhd (QSR Brands) is planning to expand its KFC business by adding up to 30 new outlets nationwide this year.

Chandrasagran Munusamy, general manager for KFC operations at QSR Brands unit QSR Stores Sdn Bhd, said the expansion would materialise with or without the relisting of KFC or QSR Brands on the local bourse this year as speculated.

He said funding for KFC’s expansion in Malaysia was not an issue and was not the main reason for the relisting.

“Thirty outlets were opened last year without any funding issue and to-date we have a franchisee of 665 KFC outlets nationwide.

“Malaysia has great potential and we want to open 20 to 30 more outlets this year in areas that we have identified,” he said after launching the new KFC Cheezy Mushroom Crunch in Kuala Lumpur on Thursday.

Chandrasagran said the cost of opening a new outlet would vary between RM1mil and RM4mil depending on whether it would be a drive-thru restaurant, a shoplot restaurant or one in a shopping complex.

It was reported recently that the fast-food franchise brand was returning to Bursa Malaysia after being taken private in 2013 by CVC Capital Partners, Employees Provident Fund and Johor Corp.

The relisting is expected take place this year with its initial public offering capable of raising up to RM2bil.

“The funds from relisting will cover many areas, not necessarily for the KFC expansion plan only. The management is working on it now, however, nothing much has been finalised,” Chandrasagran said, adding that he projected another incremental sales growth for KFC Malaysia this year.

QSR Brands, which currently holds a franchisee of over 750 KFC restaurants in Malaysia, Singapore, Brunei and Cambodia, is also the operator of Pizza Hut in Malaysia (370 outlets) and Singapore (75 outlets).

Meanwhile, senior general manager for KFC marketing Angelina Villanueva said despite the bleak economic outlook, the food and beverage industry was very competitive nowadays.

“The demand for KFC in the country is intact and KFC Malaysia is doing well in terms of sales.

“For the new KFC Cheezy Mushroom Crunch product, we are looking at 15% contribution to the overall revenue. We hope 2017 will be another good year,” she said. – Bernama

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The fact is that for QSR to maintain 750 outlets all over the region and still making money (bulk of the outlets are in Malaysia), it is reflective of  the market’s liquidity and propensity to spend.

The liquidity amongst the upper lover 40% and lower middle class is also reflective the strong support for of a local kopitiam chain seeking IPO.

The Malay Mail Online:

Malaysian restaurant chain PappaRich said to mull Singapore IPO

Thursday January 12, 2017
04:59 PM GMT+8
KUALA LUMPUR, Jan 12 — PappaRich Malaysia Sdn., a food chain selling local cuisine from nasi lemak to curry laksa noodles, is considering a Singapore initial public offering, people with knowledge of the matter said.

The company, which opened its first restaurant in Malaysia in 2006, is targeting to achieve a valuation of at least S$200 million (RM892 million) in the share sale, according to the people. It aims to conduct the offering as soon as this year, one of the people said.

Any deal would add to a rebound in the Singapore IPO market last year, when fundraising surged more than fourfold to US$1.7 billion (RM7.58 billion), data compiled by Bloomberg show. PappaRich would follow other Southeast Asia-based restaurant chains including ABR Holdings Ltd., which operates Swensen’s ice cream parlors, and Oldtown Bhd in gaining a listing to fund expansion.

A representative for PappaRich, which is based near Kuala Lumpur, said a listing has always been a consideration as the company considers fundraising options to support its expansion plans. PappaRich “would certainly” expect to have a valuation in excess of S$200 million upon listing, based on comparable businesses, he said.

Oldtown, which makes instant coffee and runs cafes, has risen 18 per cent in Kuala Lumpur trading over the past 12 months. Shares of Thai dessert chain After You Pcl, which raised US$21 million in a Bangkok IPO last month, have surged 167 per cent from their offer price.

More than 1 million customers dine at the PappaRich outlets monthly, according to its website. The company has about 100 outlets globally including locations in Malaysia, Singapore, China, Australia, New Zealand and the US, the website shows. — Bloomberg

– See more at: http://www.themalaymailonline.com/money/article/malaysian-restaurant-chain-papparich-said-to-mull-singapore-ipo#sthash.ImuUYOr8.dpuf

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More on the strategic front, initiatives are being made and strengthening the position of Malaysia two become another global shariah compliant fund hub.

Thursday, 12 January 2017 | MYT 1:33 PM

Malaysia launches 5-year Islamic fund, wealth management blueprint

KUALA LUMPUR: Malaysia has launched a five-year Islamic Fund and Wealth Management Blueprint to further strengthen the country’s position as a global hub for Islamic funds by 2021.

The plan, the first of its kind globally, is also aimed at developing the country as an international provider of Islamic wealth management services.

It was launched by Second Finance Minister Datuk Johari Abdul Ghani at the International Fund Forum 2017 in Kuala Lumpur on Thursday.

The 51-page blueprint comprises three strategic thrusts, namely, strengthen Malaysia’s position as a global hub for Islamic funds, establish the country as a regional centre for shariah-compliant sustainable and responsible investment, and develop it as an international provider of Islamic wealth management services.

“The Islamic wealth management industry is still at a nascent stage of development as compared with other segments of the Islamic capital market.

“Malaysia, with its comprehensive Islamic finance ecosystem and track record in innovation, is at an advantageous position to play a lead role in shaping the concept and driving the development of Islamic wealth management services,” the blueprint highlighted.

It also outlined 11 recommendations for Malaysia to achieve the desired status by 2021, and which focus on addressing impediments to growth and innovation, while identifying potential opportunities for collaboration and partnerships, as well as accelerating the process of building scale.

The recommendations, among others, provide enabling frameworks to support innovation in Islamic markets, enhance market access and international connectivity, promote the growth of private equity, as well as spur institutional participation in Islamic funds.

It also includes facilitating new digital business models, products and services for Islamic fund and wealth management, develop facilitative market infrastructure for Islamic wealth management, and fortify talent pipeline for Islamic wealth management.

As Malaysia operationalises the blueprint, utmost attention would be given to the phased implementation of initiatives under the respective recommendations.

It is recognised that there might be further shifts that would influence the dynamics of the global and domestic marketplace, including the emergence of new factors.

Therefore, the recommendations are designed to provide sufficient flexibility within the overall objective of the blueprint to enable appropriate adjustments and realignment in such situations. – Bernama

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It is ashamed there are professionals and the educated lot amongst us who are taken in with these proposterous notion that the nation is heading towards bankruptcy out of sheer lame political rhetorics, simply to demonstrate their political agenda is out of steam but still continue hitting multiple layer of brickwalls.

At the strategic level, limited layers dwell into markets in Malaysia as an open economy and its open for business. Business activities comes with sorts of commercial papers being traded and exchanged fr assets against debts, where shareholders plan their portfolio based on trends and strength of specific sector.

Published in: on January 12, 2017 at 20:15  Comments (1)  

Lesson from Trumphiancy: Charity begins at home

Despite short of overwhelming popular votes in recently concluded presidential elections to vote the 45th president of the most prolific democracy and champion of the ‘New World Order’, Middle America boldly told the political establishment off that they wanted attention and their requirements be served up above other interests and agenda of for the rest of the world, including position and values of the minorities within ‘Home of the Free’ and ‘Land of the Brave’.

The Straits Times story:

US elections: Malaysian PM Najib says Donald Trump appealed to Americans who want less foreign interference

 Malaysian Prime Minister Najib Razak has congratulated US President-elect Donald Trump on his election win.

 

PUBLISHEDNOV 9, 2016, 4:24 PM SGT

KUALA LUMPUR (REUTERS) – Malaysian Prime Minister Najib Razak congratulated United States President-elect Donald Trump on Wednesday (Nov 9), saying the Republican victor had appealed to Americans who wanted to see the United States less embroiled in intervention abroad.
“His appeal to Americans who have been left behind – those who want to see their government more focused on their interests and welfare, and less embroiled in foreign interventions that proved to be against US interests – have won Mr Trump the White House,” Datuk Seri Najib said in a statement.
Mr Najib said he looked forward to continuing a partnership with the United States under Mr Trump’s presidency.

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This is true because US foreign policy the past eight years of Obama administration, spent too much on international issues which include the change of several regimes mainly in the North African and West Asian region, more commonly known as ‘Arab Spring’.

United States supported resistance and separatists in countries like Syria, Kurdish, Yemen, Ukraine.

The Obama administration earlier intended to reduce and withdraw armed troops in Afghanistan but instead committed more resources. So was the promise to shut Guantanamo Bay and resolve the hundreds of multinational detainees being jailed without trial.

Right almost ending his first term, President Obama launched a special forces military incursion attack from Afghanistan and assassinated the world most wanted terrorist Osama Ben Laden.

When Hillary Clinton was the Secretary of State and she was in Malaysia fir official visit, she made a point about allowing then Opposition Leader Anwar Ibrahim some room to discourse, despite the latter was then still in a serious criminal case which still in trial.

During President Barack H Obama’s official visit to Malaysia, part of his itinerary is to have an audience with Opposition Leaders and civil liberty activists. That should not be viewed as anythimg but dipping America’s Super Power hand into domestic affairs, especially when the case brought forth was criminal and anti-Constutional in nature.

Closer to home front, Prime Minister Dato’ Sri Mohd. Najib Tun Razak opined that the outgoing administration was not too comprehensive in their outlook for the majority of Americans, thus after eight years of Democrat control via Obama administration, they had enough.

The Straits Times story:

US elections: Malaysia’s Najib says Trump appeals to those left behind

Malaysian Prime Minister Najib Razak said that Donald Trump won the White House because of his “appeal to Americans who have been left behind”.PHOTO: EPA
PUBLISHEDNOV 9, 2016, 8:46 PM SGT

Trinna LeongMalaysia Correspondent
Malaysian Prime Minister Najib Razak has lauded Mr Donald Trump’s victory today, saying what happened showed that “politicians should never take voters for granted”.

“His appeal to Americans who have been left behind – those who want to see their government more focused on their interests and welfare, and less embroiled in foreign interventions that proved to be against US interests – have won Mr Trump the White House”, Datuk Seri Najib said in a statement.

His comments on focusing on the interest and welfare of those “left behind” echoed what he said at the unveiling of Malaysia’s 2017 Budget when he handed out a slew of cash, grants and aid to what he called the country’s B40 group – the bottom 40 per cent of Malaysians.

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Let the mighty United States have a reflection on themselves first upon the change of guard coming up 20 January 2017. The Brit gad theirs right after World War Two ended and they quickly decided maintaining control and cloud of the British Empire, which simply translate to 1/3 of the planet is something they cannot afford to do any longer.

So what ever resources left available to Trump come January, should be channeled for the social and economic development strategy and agenda of the Middle America first.

Published in: on November 11, 2016 at 00:15  Leave a Comment  

Preserving the Brand

The decision makers of the Malaysia GP namely Ministry of Finance, Sepang International Circuit and Youth and Sports Ministry (KBS) should consider the preservation of the Brand, particularly the world FIA champion unchalleged for several seasons Mercedes AMG Petronas F1 Team which is synonymous with SIC as its home.

NST story:

Khairy: Malaysia should ‘take a break’ from hosting F1 race

BY NST ONLINE – 24 OCTOBER 2016 @ 8:53 PM

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KUALA LUMPUR: Youth and Sports Minister Khairy Jamaluddin today expressed his support for a temporary halt to Malaysia hosting the Formula 1 races.

Addressing the matter via his Twitter handle @Khairykj, the minister said there were many compelling factors to support the idea, including high costs and limited returns. He said that when Malaysia first began hosting the F1 races in 1999, it was the first Asian country outside of Japan to do so.

“Now, there are so many venues. There is no first-mover advantage; it’s no longer a novelty,” he said. Khairy cited reasons such as declining ticket sales and TV viewership figures, as well as foreign visitors now having the option of seeing the races in Singapore, China and the Middle East.

His comments came in the wake of the revelation by Sepang International Circuit (SIC) chief executive officer Datuk Ahmad Razlan Ahmad Razali today, who said SIC is mulling the future of the race in Malaysia. Razlan had said that a special meeting would be held this week with SIC’s major stakeholder, the Finance Ministry, with regards to the future of the sporting event in Malaysia.

He said consistently declining F1 ticket sales and TV viewership figures were among the factors behind the move.

Meanwhile, Khairy engaged Twitter users on the subject, and fielded questions. He said SIC should bid for less costly races, like the Japan GT, in response to a query on what can be done to avoid turning the Sepang circuit into a ‘white elephant.’

On a question as to why the Singapore Grand Prix had in contrast enjoyed success, Khairy said the Singapore leg benefited from its novelty factor. “It’s a night race in the city (which is done) no where else in the world. Even then, (their) ticket sales are down,” he said.

Khairy maintained that Malaysia should continue to host the MotoGP, which has maintained a sellout crowd. The Moto 2 and Moto 3 races, he said, also has the added boost of having Malaysian riders.

The minister said SIC could instead also spend more on development and increase public access to track days. “Local racers such as Jazeman Jaafar, Nabil Jeffri and Akash Nandy are having a tough time getting sponsors.

A fraction of the F1 hosting fee can help them and more,” he said. Jazeman is a driver with HTP Motorsports in the Blancpain GT Series and the Intercontinental GT Challenge. Nabil Jeffri races for Arden Motorsport in GP2.

Read More : http://www.nst.com.my/news/2016/10/183085/khairy-malaysia-should-take-break-hosting-f1-race

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The comment from the concession holder and local operator of Malaysia GP argues that since Mercedes AMG Pertonas has been ‘monopolising’ the entire season of the FIA F1 circuit globally for a few season as overall champions, it has digressed on exciting for fans and TV viewers world wide.

Event in Malaysia, ticket sales have been dwindling down through the years. Also tv viewership.

In Singapore, where the city-state is offering the only night race in the 20 race circuit worldwide, is suffering the same symptoms.

It is unwise to sacrifice commercial takings at the expense pf branding when Petronas is synonymous with the Mercedes AMG Petronas team and SIC is their home turf.

It is like Italian GP at Monza, home of the Scuderia Ferrari F! team where the team is synonymous with Santander and Shell are two title partner sponsors.

Malaysia, through KBS, should find ways to strategically capitalise and optimise on the branding on Mercedes AMG Petronas F1 team and SIC, for the nation.

screen-shot-2016-10-25-at-4-18-09-am

Maybe other global renown brands like Mutiara Crowne Hotel, Danna or even Pelangi, national carrier Malaysia Airlines and globally renown banking group Maybank, to come together and lend the strength of joint-co-branding for generating a new hype of interests amongst the motor sports enthusiasts, high net worth individuals and targeted corporations to commit into the Malaysia GP for the net three years.

The ability to continuously hype the attention on Malaysia as a high technology motorsports itinerary would also be beneficial if and when Lotus is ready to introduce their products, easier planned by 2018-2020. This will complement the industry.

Branding is a powerful tool. Minister Khairy Jamaluddin should be able to distinguish the merits of brands that are already riding high on the top without a real challenger, which should be optimise to the fullest all his strategic programs of ‘Fit Malaysia – the high-octane segment and capitalise on it.

After all, for Malaysia GP Tan Sri Mokhzani Mahathir considered of installing lighting facility all over at the GP track for the Malaysia GP could be race at night, it a proper built motorcading circuiting,

Giving it up  now where the figures are dwindling isn’t enthusiastic ways of marking up an mark, on a turf to be repackaged into greater heights, mainly on the consideration of lowered ticket sales.

Published in: on October 25, 2016 at 00:30  Leave a Comment